China-based online education services provider Dada has raised $255m in a series D round featuring education company TAL Education, DealStreetAsia reported today, citing Chinese media outlet Jiemian.
Private equity firm Warburg Pincus led the round while venture capital fund Yonghua Capital also participated.
Founded in 2013 as DadaABC, Dada operates an online tutoring platform that teaches English to children aged four to 16 using native speakers. The company has partnered the American Tesol Institute and tailors its courses to existing curricula such as the Pearson Test of English.
The company has not specified what it intends to do with the series D capital. It had previously received $100m in series C funding from TAL Education and investment firm Tiger Management in January 2018.
VC firm Oriental Fortune Capital had supplied an undisclosed amount of series B-plus capital for Dada in In December 2016, after Yonghua Capital had injected an undisclosed sum in a series B round three months earlier.
Dada has not confirmed details of its earlier funding rounds, but Dragonrise Capital reportedly led a $30m series A in 2015 that featured Feima Fund and Qingsong Fund, and the company has confirmed that all three are shareholders.
