Web International English, a China-based education provider, has received a $10m strategic investment from K12 Inc. (NYSE: LRN), a leader in proprietary curriculum and online school programs for students in kindergarten through high school in the U.S.
The investment gives K12 a 20% minority interest, with the option to acquire the remaining ownership interests in the company.
Founded in 1998, Web provides English language training for university students, government workers, and employees of international companies. It has a network of 67 learning centers in 45 cities covering most of the country and currently serves more than 45,000 students.
The proceeds of the investment will primarily be used to expand Web’s learning center network into more Chinese cities.