Baijiayun, a China-based remote education and training video platform backed by corporates Xiaodu Huyu, Huatu Education and BaishanCloud, has closed an RMB93m ($13.9m) series B-plus round, DealStreetAsia has reported.
The round was led by venture capital firm Fortune Capital and included GP Capital, a fund backed by government-owned financial holding group Shanghai International Group, as well as private equity fund manager Bondshine Capital and investment firm Qinglan Capital.
Baijiayun markets cloud-based software tools that help schools and enterprise customers compile interactive learning courses featuring live-streamed classes and smart tuition tools.
The funding comes weeks after GP Capital led a $26.3m series B round for Baijiayun that included Chinese Academy of Sciences’ Cash Capital unit, Qinglan, Shenzhen Houde Qianhai Investment, unnamed members of the company’s team and, it has now revealed, Bondshine Capital.
The company raised an undisclosed amount of funding from GP Capital, Citic Capital, Gaorong Capital and QF Capital soon after it was founded in 2017.
Video streaming platform developer Xiaodu Huyu, online education provider Huatu Education and cloud services provider BaishanCloud then supplied $9.5m in series A and A-plus funding in early 2018.
Guiyang Venture Capital and Bangsheng Capital added an eight-figure renminbi (RMB10m = $1.5m) amount of series A-plus financing in June 2019.
The original version of this article appeared on our sister site, Global University Venturing.