Chinese education platform Fengkuang Laoshi said in Beijing on Thursday that it has raised RMB 120 million (USD 18 million) in Series C funding.
Greenwoods Investment led this round of funding, followed by Tencent and another investment company called Yuanxi. The Founder and CEO of Fengkuang Laoshi, Zhang Hao said in the press conference that this round of financing would help improve their online and offline layout.
Fengkuang Laoshi, literally meaning “crazy teacher” in English, has two apps for tutors and parents. The parents can pay to find their kids a tutor with this app, and the tutor would then go to their home. The platform also has a live streaming teaching app, where students can pay to watch the courses by some famous teachers.
The platform was valued at USD 20 million after its Series A funding in April 2015. It received USD 20 million in Series B funding led by Tencent in June 2015, and USD 24 million in Series B+ from investors including Share Capital, valued at USD 200 million in July 2015.
Zhang said at the press conference that they have reached a strategic cooperation with Tencent in live streaming, and that their live courses will come online in July.
(Top photo is screen shot from kisiselbasari.com)
