AAA Knowbox packs in $100m

Knowbox packs in $100m

China-based online education platform Knowbox has raised $100m in a series C round backed by education firm Tal Education Group, China Money Network reported today.

The round was led by Yunfeng Capital, the private equity firm co-founded by e-commerce group Alibaba’s chairman, Jack Ma.

Founded in 2014, Knowbox runs a platform through which teachers can provide personalised educational materials to students and help them with their homework.

The service has attracted more than 27 million students and 2 million teachers across more than 70,000 schools to date.

The series C funding will enable Knowbox to improve its teaching materials, develop data services and provide smart homework products for schools.

The company most recently raised $30m in an October 2017 series B+ round led by Bertelsmann Asia Investments, media group Bertelsmann’s regional corporate venturing subsidiary.

Baidu Ventures, the corporate venture capital arm of internet company Baidu, also participated in the series B+ round, along with Tal Education and real estate conglomerate New World Development.

Legend Star, the early-stage investment vehicle for conglomerate Legend Holdings, backed Knowbox’s $15m series B round in 2016, which was led by growth capital firm Genesis Capital.

Tal Education, Legend Star and Liu Qiangdong, the founder of e-commerce firm JD.com, contributed to the company’s $10m series A round in 2015, the year after Legend Star supplied it with $1m in angel funding.

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