DST Global, the venture capital firm spun out of internet company Mail.ru, has backed a $100m series D round for China-based online education platform 17Zuoye, China Money Network reported earlier today.
H Capital led the series D round, while Singapore’s sovereign wealth fund Temasek and Shunwei Capital also participated.
Founded in 2011, 17Zuoye previously received a $20m series C round from DST and Tiger Management in February 2014. It closed a $10m series B round in 2013, backed by unnamed investors, and obtained a $5m series A from Shunwei in 2012. The company was backed by angel investors Wang Qiang and Xu Xiaoping with an undisclosed amount in 2011.
17Zuoye provides an online platform with services and products for children, their parents and teachers in primary and secondary school, with a particular focus on mathematics and English language skills. The company claims to have 2.2 million users across more than 10,000 schools across China.