China-based online education services provider DadaABC has raised $100m in a series C round backed by education company TAL Education and investment firm Tiger Management, China Money Network reported yesterday.
Founded in 2013, DadaABC offers one-on-one English language courses to users aged four to 16. The classes are provided by native English speakers and tailored to existing curricula such as the Pearson Test of English Academic, a common exam for university entrance.
The company has attracted tens of thousands of users across China, Japan, France and Germany. It has also established an R&D centre called Brain Spark Lab in Hong Kong that works on teacher training, education research and the design and implementation of tests.
DadaABC secured an undisclosed sum in a December 2016 series B+ round featuring Oriental Fortune Capital, adding to series B funding provided by Yonghua Capital in September the same year.
The company has not confirmed any additional funding details, though deals database PitchBook indicates Dragonrise Capital led a $30m series A round in 2015 that included Feima Fund and Qingsong Fund.
Qingsong and Yonghua Capital had previously supplied an undisclosed amount of seed funding for DadaABC at an unspecified date, according to PitchBook. Dragonrise, Feima, Qingsong and Yonghua are all listed as investors on the company’s website.