Online Education Unicorn Yuanfudao is in Talks to Raise $1.2 Billion in New Funding Round
2020-08-31 22:34:18

36Kr reports that the online education company Yuanfudao is in talks to raise $1.2 billion in a new funding round from original shareholders Tencent, Hillhouse Capital, and Boyu Capital.

For this news, JMDedu asked Yuanfudao for confirmation while the company responded by saying no comments.

Founded in 2012, the company now has aggregated a large database of K12 study behavior and built up a product matrix including Yuanfudao, Yuantiku(Question Bank), Xiaoyuansouti(online answer book product), Xiaoyuankousuan(homework product), and Zebra AI Class, meeting students’ demand by leveraging AI and big data in educational scenarios besides live broadcasting.

If the information is accurate, Yuanfudao’s valuation will exceed 13 billion US dollars after the new round, which will set a new record after its Series G round with 1 billion dollars, the largest financing deal in the online education sector so far.

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