China-based tutoring service Haifeng Education has raised an undisclosed amount in a series C-plus round co-led by online education provider TAL Education, China Money Network reported yesterday.
Venture capital firm Source Code Capital and an unnamed sovereign wealth fund co-led the round. Although its size was not revealed, Haifeng said it has raised a total of more than $100m in the latest round and a series C round in January 2018.
Haifeng provides an online one-to-one tutoring service that focuses on the K12 six-to-18 year old age group, though it also offers lessons for students looking to study overseas.
The company intends to use the latest funding to expand the range of courses it offers, invest further in its technology, increase headcount and strengthen its marketing capabilities.
The January series C round was sized in the eight-figure dollar range and also featured TAL Education and Source Code Capital according to China Money Network.
Haifeng had reportedly secured an eight-figure renminbi (RMB10m = $1.5m) amount in a July 2017 series B round led by 01 Venture Capital that included Yonghua Capital, Qicheng Investment and Yongshi Investment.