Zuoyebang closes USD750m Series E round led by FountainVest Partners and Tiger Global

Online education platform Zuoyebang, announced on June 29 that it has raised 750 million US dollars in its Series E round of financing.
The new round was led by FountainVest Partners and Tiger Global, with participation from new and existing investors such as Qatar Investment Authority, Sequoia Capital China, SoftBank Vison Fund,Tiantu Capital and Xiang He Capital.

Online education platform Zuoyebang, announced on June 29 that it has raised 750 million US dollars in its Series E round of financing.

The new round was led by FountainVest Partners and Tiger Global, with participation from new and existing investors such as Qatar Investment Authority, Sequoia Capital China, SoftBank Vison Fund, Tiantu Capital and Xiang He Capital.

TaiheCap continues to serve as its sole financial advisor for this round.

Zuoyebang is a K12 online education platform, committed to using technology to help make education inclusive, solve the “pain points” in the education field.

Zuoyebang has amassed 170 million monthly active users, about 50 million of whom use the service each day. To date, the startup’s cumulative activated users exceeded 800 million.

“With the fresh financing, Zuoyebang will continue to invest in the services as well as product research and development. We will continue to create learning value for our users, while ramping up our exploration of new models and businesses,” Hou Jianbin, founder and CEO of Zuoyebang, said.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/30/zuoyebang-closes-usd750m-series-e-round-led-by-fountainvest-partners-and-tiger-global/.

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