Study abroad service platform Smartstudy receives USD 30M for Series B+
Founder: Wei Xiaoliang
Founded in: 2013
Financing status: RMB 200 million (USD 30 million) for Series B+ financing in 2017
Study abroad service platform, Smartstudy, received USD 30 million for Series B+ on November 1 to accelerate branding.
Smartstudy is a study abroad service platform that adopts the U.S. flipped class model as its teaching mode, and provides students with individualized classes that integrate data analysis. Students will be evaluated by experts and assisted by AI, after which the platform will schedule plans based on their results. Besides four, full-time teachers for listening, speaking, reading, and writing, each student is equipped with a foreign tutor who instructs oral English and writing.
Founded in 2013 in Beijing, Smartstudy’s services cover achievement upgrading, guidance in selecting schools, and other study abroad services. Meanwhile, it has up to 6 million online registered users and 150,000 paying students, as well as offline study centers to supplement online teaching and application services. So far the company has launched 28 offline study centers in China and the U.S.
This new financing round was led by Cash Capital. Previously, Smartstudy raised financing funding from Baidu. The capital will be used to develop international education, invest in its products, content, services, and technology, as well as accelerate branding.
(Top photo from 699pic.com)