XinLiCheng(新励成), a Guangzhou-based eloquence training company, has raised tens of millions yuan in its Series B round of financing led by Shanghai-based MingDe(明德传承), with original shareholder Guangdong Cultural Investment also participating. The company claims that the investment will be used to accelerate its online-merge-offline(OMO) footprint, build more offline centers for adult eloquence training, as well as improve brand promotion.
Added to National Equities Exchange and Quotations(NEEQ) in 2017, the company now has promoted its business covering more than 60 cities with 82 directly-operated and franchised centers across the country. Zhao Bi, chairman of XinLiCheng, said that in 2020, they will increase the investment in the eloquence training business for children.
Due to the outbreak of the epidemic, the company has gradually pivoted its offline courses to the online platform, launching a new curriculum called “Public Speaking”. This year, OMO is regarded as the main strategy that the company will be committed to the improvement of the online conversion efficiency by traffic referral.