SaaS Tool Xiaoe-tech Announces Strategic Investment by TAL
2019-12-22 22:14:40

Xiaoe-tech, a SaaS platform based in Shenzhen, Guangdong, announced it has received 100 million yuan in Series B funding round led by the strategic investor TAL Education Group, an edtech giant in China. After this round, the startup will be valued at over 1 billion yuan, according to a statement Saturday.

According to Bao Chunjian, CEO and founder of Xiaoe-tech, the newly raised capital will be used for product research and development, as well as market expansion in fields of education and corporate services and in areas outside metro cities.

Founded in 2016, the platform offers providers of education service and paid content with one-stop operating solutions.

The startup claims it has reached over 680,000 registered users. Since its founding, it has produced more than 7.5 million commodities and helped its clients generate revenue of more than 5.5 billion yuan.

Xiaoe-tech said it is to launch a PaaS platform and a corporate coaching solution.