Vipkid, a Beijing-based online education platform for children in China to learn English through teachers in North America, received an investment from Bryant Stibel, the venture capital firm announced by Kobe Bryant and Jeff Stibel on August 22.
The deal followed the announcement, earlier on Aug. 3, of a $100m Series C round led jointly by Sequoia Capital and Jack Ma’s Yunfeng Capital.
The company intends to use the funds to further improve its strategic plans for international development, accelerating efforts in curriculum and product development, as well as growing its network of teachers (hiring over 1,000 instructors a month across North America).
Founded in 2013 by Cindy Mi, CEO, Vipkid uses the on-demand economy model to connect children in China with teachers in North America, aiming to give children in China a virtual North American elementary school experience. Curriculum is aligned to U.S. Common Core State Standards.
The connection between the company and Bryant Stibel was facilitated by Learn Capital, the Silicon Valley based educational technology venture capital firm.