Tencent Joins Series C Funding of Online Education Platform 'Onion Mathematics'
Duozhiwang, 2/28/18
Beijing-based Guanghe Xinzhi Technology, operator of online and mobile K-12 learning platform Yangcong Shuxue (literally "Onion Mathematics"), recently announced completion of over RMB 120 mln in Series C funding jointly invested by Legend Capital and internet conglomerate Tencent (0700.HK).
Onion Mathematics was created near the end of 2013 and officially launched in October 2015. The platform started out presenting broken-down textbook material from middle school math curriculum in 5-8 minute animated videos, and its courses now include elementary and high school math and middle school physics. Its products, available via mobile, PC, and tablet devices, include features such as study, practice, problem sets, testing, diagnostics, AI-based real-time guidance, and results forecasting.
Onion Mathematics has over 14 mln registered users covering 63,000 middle and primary schools in 419 cities and 34 provinces nationwide. The platform has accumulated over 10 bln points of data relating to curriculum learning, practice exercises, and user behavior. Users spend a total of over 100 mln minutes studying on the platform per month, and over 200 mln tutoring sessions have been provided.
On the marketing side, Onion Mathematics has launched a "Gold Medal Tutor Course" priced at RMB 198 for 3 months, RMB 298 for 6 months, and RMB 488 for 1 year.
Editor's Note: For more background on Onion Mathematics, please see Online K-12 Education Platform 'Onion Mathematics' Wins RMB 97 Mln Series B, MD 5/23/17 issue.
Keywords: M&A VC Internet funding online education Tencent Legend Capital Series C 0700.HK Yangcong Shuxue Guanghe Xinzhi
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