Peilian, the China-based operator of an online music tutoring platform, has secured $150m in a series C round that included internet group Tencent, China Money Network has reported.
Hedge fund manager Tiger Global Management, Orchid Asia Group, Jinshajiang Venture Capital, Lanchi Venture Capital, GSR Ventures, BlueRun Ventures, Long Capital and BHG Long Hill Capital.
Peilian has built an online platform that provides one-to-one music tuition for students aged five to 16 years old on the piano, violin, accordion and a Chinese string instrument known as the guzheng.
Tencent, Orchid Asia, BlueRun Ventures, GSR Ventures and Long Capital had previously combined to invest a nine-figure renminbi sum (RMB100m = $15.3m) in the company through a series B round in January this year.
Peilian had received an undisclosed amount of funding from Bluerun before raising an undisclosed amount of series A funding from GSR. Long Capital also made a multimillion dollar investment in Peilian in May 2017 according to China Money Network.
