SmartStudy, a China-based online education platform backed by internet company Baidu, has attracted RMB200m ($30m) in series B capital from unnamed investors, China Money Network reported yesterday.
Founded in 2014, SmartStudy offers online study aids and offline tutoring to Chinese students hoping to pass standardised English language exams such as TOEFL and IELTS.
The cash will go towards improving SmartStudy’s business model, content and services. SmartStudy said it has helped five million students and partnered around 1,000 education providers since its launch two years ago.
Baidu supplied $10m in series A funding for SmartStudy in 2014. The company had previously secured $1.6m in seed capital from an unnamed angel investor.