China-based online education service Zhan.com has raised $84m in a series C round featuring Bertelsmann Asia Investments, the media group’s regional corporate venturing arm, China Money Network reported today.
The round was led by venture capital firm Sequoia Capital and also included private equity fund Vision Knight Capital, hedge fund manager Milestone Capital, VC firm GGV Capital and VC fund Shunwei Capital.
Founded in 2011, Zhan offers training courses for Chinese students hoping to take entrance exams at foreign universities. The platform also helps users prepare for Tofel, a standardised test for English language skills that is internationally recognised.
GGV and Shunwei co-led Zhan’s $29m series B round in April 2015, after the company had secured several tens of millions renminbi (RMB10m = $1.6m) in series A capital in 2013 from unnamed investors.
Bertelsmann Asia Investments was listed as an existing investor in the company’s announcement of the round, indicating it may have been among its series A investors.