Research group IDG’s corporate venturing unit, IDG Capital Partners, has re-invested in China online education SNS platform operator, Fenbi Technology, in a $7m series B round. Matrix Partners China, a China venture capital firm, also took part in the round.
Fenbi.com, the company’s online SNS platform was launched in August 2012, and connects students with teachers and professors of various subjects. In February 2013, the company launched an online mobile phone application called “Yuantiku,” which allows users to access customised practice tests for college entrance exams, high school entrance exams, and other tests, based on official exams used in previous years.
The latest round follows on from a series A round led by IDG, which was worth an undisclosed RMB eight digit figure.