TutorGroup Closes Nearly $100M Series B Financing
TutorGroup, a San Francisco, CA-based online education platform, closed a nearly $100m Series B financing.
Backers included Alibaba Group, Singapore investment company Temasek and Qiming Venture Partners.
The company plans to use the funding to accelerate growth of its position across Asia, and also expand its presence in the Americas.
Founded in 2004 and led by Dr. Eric Yang, CEO, TutorGroup is an online education platform that provides real-time interactive language learning via more than 2,000 teachers in 30 countries and 60 cities around the world. The company serves students that range from global business professionals to young children offering products for English training and for Mandarin Chinese.
The platform also serves as a 24/7 support module, a CRM tool, student and teacher memory, course management, and a classroom manager.
Earlier in January, TutorGroup partnered with former NBA star Yao Ming, who is also focused on improving global education through the Yao Ming Foundation. In the framework of the partnership, TutorGroup and Yao will jointly provide 30,000 English-language lessons to students of the foundation free of charge, delivering English-language lessons across China, including rural areas. Yao Ming will also be the global spokesperson for TutorGroup.