Quantitative trading firm Susquehanna International Group (SIG) has led a $22m series B round for China-based employee training platform Yunxuetang, China Money Network has reported.
Private investor Li Qi also contributed to the funding round, according to local news outlets. It follows $11m in series A capital Yunxuetang raised from undisclosed investors in 2014.
Founded in 2011, Yunxuetang offers training services, learning materials and exams aimed at medium-to-large businesses in sectors such as real estate, baking, insurance and retail. The product suite comprises a learning platform, a tool to create teaching materials and a video conferencing app.
Yunxuetang claims to have more than 1,200 lecturers offering more than 2,000 courses through its platform, which is being used by some 300,000 businesses including smartphone manufacturer Lenovo and pharmaceutical firm Tongrentang.
The cash injection will support an expansion of Yunxuetang’s training content and will help boost its consultancy services. The company will also use some of the cash to hire sales staff.