- English-learning community Liulishuo received approximately USD 100 M for Series C
Founder: Wang Yi
Founded in: 2012
Financing status: Approximately RMB 675 million (USD 100 million) for Series C financing in 2017
English learning community Liulishuo, on July 26, received approximately USD 100M for their Series C financing round. Funds will be used to introduce artificial intelligence technologies to its current app offerings in order to provide a better English-learning experience.
In the past few years in China, many online startups have emerged seeking opportunities in the education space, including language learning, after-school tutoring and more. Some are combining online education services with AI and deep-learning technologies to improve their efficiency and provide a better service.
Liulishuo is an English-learning community designed to help learners improve all aspects of their English-language abilities (listening, speaking, reading and writing). It also provides a comprehensive language learning experience through its AI and deep-learning technologies.
Last year, Liulishuo released an “AI English Teacher” which formed its AI-powered personalized interactive course on its app. So far, there are 11 classes with 20 different types of AI-powered personalized interactive courses, which include 6,000 pieces of original hand-painted illustrations, 22,000 oral-English sentences and 36,000 examination questions. Additionally, the AI English teaching technology has been proven to reduce the required learning time to close to native language level.
Founded in 2012 in Shanghai, Liulishuo claims to have the most popular and vibrant language learning community in China with over 45 million registered users. And, within the first year of launching its “AI English teacher”, it has acquired approximately 600,000 paid users.
This new round of funding was led by China Culture Industrial Investment Fund and Wu Capital, with some of its earlier investors participating, including IDG Capital, GGV Capital, Cherubic Ventures and more. The capital will be used to introduce artificial intelligence technologies to enhance its smart AI English teachers, as well as, run market expansion plans for a larger market share.
Online language learning platform Duolingo received USD 25M for Series E
Founded in: 2011
Financing status: RMB 168 million (USD 25 million) for Series E financing in 2017
Online language learning platform Duolingo, on July 26, received USD 25M for their Series E financing round to offer new language courses.
Duolingo is an online language learning platform that utilizes gamification techniques to help its users learn to read, listen, and speak in more than 20 languages. Consumers are able to learn their language of choice using any device anywhere since Duolingo provides apps across iOS and Android smartphone systems.
Currently, users can learn more than 20 languages on its platform, including English, Japanese, Chinese and more. Duolingo helps users set up a learning plan that integrates their preferences. For example, users can choose how long they would like to spend on learning languages everyday.
Founded in 2011 in Beijing, Duolingo has provided its services to more than 200 million users all over the world, with 25 million of them active daily.
This Series E financing round was from Drive Capital. Duolingo plans to use the funds to recruit more talent and conduct its product development plans to introduce language courses with increased language support.
(Top photo from 58pic.com)