China-based Ivydad, providing education services for children up to 8 years old, announced yesterday that it has raised $30 million in a Series B funding round. This deal was led by Orchid Asia, with Focustar Capital and V Star Capital also participating.
The company was founded by Harvard and Yale University graduate Huang Ren in 2015, offering learning courses in Maths, Chinese, English, music, and animation. Ivydad is always dedicated to content research, including online audio resources, online courses, and books for teaching assistants.
In 2020, the company achieved positive net income, and its Daily Active User has increased five times compared with 2019. To date, Ivydad’s monthly revenue exceeds RMB 40 million, and the total number of paying users exceeds one million.