Sunny Education, Inc. (17Zuoye), a Beijing, China-based online education platform, raised $250m in Series E funding.
The round was led by Temasek, with participation from CITIC Private Equity Funds Management and earlier investor Shunwei Capital.
The company intends to use the funds to accelerate its expansion in the middle school and high school sectors further strengthen its leading position in the primary school sector and to invest in content and technology.
Led by Liu Chang, founder and CEO, 17Zuoye a three-party K-12 intelligent education platform for teachers, students and parents in China. It aims to stimulate students’ learning interest and improve learning efficiency and efficacy. Beyond homework, students can study by themselves using intelligent supplementary textbooks or participate in live stream tutoring courses.
By February 2018, the company has served over 60 million users in approximately 120,000 schools by offering complimentary homework solutions to teachers, students and parents.