This education startup landed USD 52 M backed by Sina

Leading Chinese media Sina announced on Tuesday that Shanghai Zhuiyue Ruixin Digital (a.k.a. Able-Elec) secured its Series B financing of RMB 350 million (USD 51.7 million), with Sina being a new shareholder. Able-Elec is the parent company of Zhihuishu, a leading education platform.

“The financing will help us balance the scale, quality, and efficiency of our services,” said Wang Hui, CEO of Zhihuishu.

Zhihuishu introduces courses to institutions of higher education, helps lecturers with professional training and course planning, and offers verified certificates for certain courses online.

According to company data, the platform now has over 1,800 universities or colleges as members, covering more than 10 million college students, who use the platform to study courses provided by other universities or colleges.

A Sina spokesperson said that they are optimistic about Zhihuishu’s business model, and that Sina will help accelerate Zhihuishu’s development with close strategic engagement.

Sina has been keeping an eye on the education industry, trying to discover companies with great potential, Sina Tech reported.

Last September, Sina also joined the Series B financing of USD 20 million for Lele Ketang, a site offering customized learning services for primary school and high school students.

(Top image taken from Baidu Images)

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