Online education platform Zhangmen.com receives USD 120M in Series D
Founder: Zhang Yi
Founded in: 2014
Financing status: RMB 785 million (USD 120 million) for Series D financing in 2017
Online education platform Zhangmen.com received USD 120 million in a Series-D fundraising round on December 26. The newly raised capital will go towards expansion and upgrading its online education services.
Zhangmen.com is an online education platform that focuses on providing primary and middle school students between 8 and 18 years old with online one-on-one tutorial services. It mainly recruits teachers from top schools in China, such as Tsinghua University, Peking University, Fudan University, among others. Zhangmen.com’s one-on-one tutorial services are available for students on PCs, laptops, smartphones, tablets, as well as TVs.
In terms of products, Zhangmen.com integrates with AI technology to build an intelligent classroom and personalized evaluation system. Because of this, the platform can match students with suitable tutors and offer customized tutorial services. Additionally, Zhangmen.com is partnering with SenseTime, a leading AI startup in China, to introduce emotion recognition to better serve students.
Zhagmen.com was founded in 2014 in Beijing. According to CEO Zhang Yi, Zhangmen.com has in total amassed over two million registered users across China and covers more than 600 cities. Its tutorial team has now expanded to more than 30,000 employees. Meanwhile, the company also has plans to improve its tutorial resources and to introduce these resources to more than 100,000 schools. Zhangmen.com’s revenue in 2017 is expected to exceed RMB one billion (USD 153 million).
The recent financing round was led by an undisclosed group of investors. The platform previously secured funding in a financing round led by StarVC, which was co-founded by a group of celebrities in China that includes Ren Quan, Li Bingbing, and Huang Xiaoming. The capital will be used to further invest in the development of VR technologies, to attract more users to achieve the startup’s goal of ten million users, as well as to expand services to smaller cities across China.
(Top photo from 699pic.com)