The language learning platform, backed by Alibaba and CyberAgent, raised the money at a $1bn valuation and intends to expand into other on-demand services.
TutorGroup, the China-based online education platform backed by e-commerce firm Alibaba and internet company CyberAgent, raised $200m yesterday in a series C round that valued it at $1bn.
The series C funding was provided by Singaporean sovereign wealth fund GIC, investment bank Goldman Sachs, and private equity funds Silverlink Capital and Russia-China Investment Fund (RCIF).
Founded in 2004, TutorGroup operates a real-time interactive language training platform that employs more than 4,500 teachers across 60 countries.
The company plans to now…
