China-based online tutoring service Jiayou Xueba received an eight-figure renminbi amount (RMB100m = $14.5m) of series C funding today from educational services provider New Oriental and asset management firm CDH Investments.
Founded in 2013, Jiayou Xueba offers tutoring to users aged six to 18 through an online platform. It provides private one-to-one tutoring as well as small and larger classes.
The company has signed more than 20,000 teachers and tutors up to the platform. It operates a consumer-to-consumer model that allows the teachers to take the lead in structuring their classes and obtaining students.
The round follows an undisclosed amount of series B funding from New Oriental and CDH Investments in April 2019, according to China Money Network, which also identified after-school education provider OneSmart Education Group and investment firm Junhe Capital as existing investors.
New Oriental participated in the series C round through its Education and Culture Industrial Fund.
