EarlyBirds, a Hangzhou-based EdTech for children English training with an R&D Center in London as well, announced today its Series Pre-A round with 10 million yuan invested by Buhuo Venture. The latest fund will be used for product upgrade and talent recruitment. As for prior rounds, the company has completed an angel round invested by Zhonglu Capital in March 2018.
The company targets at the K-12 market in the third-tier and fourth-tier cities, adhering to the intensive layout of offline training centers and the development of localized teaching content. With a combination of online and offline teaching models, the company provides online oral English courses for kids and offline 1-on-12 small-size classes for primary and secondary school students.
Founded in 2017, EarlyBirds now has 17 branches across the country with more than ten thousand students studying over the same period and a total of over 100,000 cumulative users. Having about 40 sets of self-developed teaching materials, the renewal rate of the courses has reached 92.2%, with a referral rate of 23.6%.
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