The corporate venturing unit of Chinese e-trader Alibaba Group, Temasek and Qiming Venture Partners have invested in a $100m series B round of funding for a China-based tutoring company. The target company, TutorGroup, forecasts the adult English language-learning segment alone within China is growing at 25% annually, and will grow to more than US$21bn by 2016.
TutorGroup, a China-based online language learning platform, has raised close to $100m in series B funding. Backers include China e-trader company Alibaba Group, Singapore government-backed investment company, Temasek and Qiming Venture Partners, early to growth stage venture capital firm based in China.
The latest funding round brings the company’s reported raised capital to $115m. The business raised a venture round in 2012 worth $5m from QiMing Venture Partners and the Japan corporate venturing unit of CyberAgent.
With more than 2,000…
