Snapask, a China-based online learning platform backed by media company Singapore Press Holdings, confirmed yesterday that it has closed a $35m funding round.
Private equity fund Asia Partners participated in the round which, according to an earlier TechCrunch report, was co-led by venture capital firm InterVest.
Founded in 2015, Snapask has developed a mobile app that matches students mostly aged between 10 and 18 years old with tutors for one-to-one classes that can be conducted through video chat.
The platform has 3 million registered users and is available in Hong Kong, Taiwan, Singapore, Indonesia, Thailand, Japan, South Korea and Malaysia. Founder and CEO Timothy Yu gold TechCrunch it intends to expand into Vietnam.
The funding will also support the introduction of video content to the platform in addition to the upgrading of Snapask’s analytics technology. It plans to work with schools using data generated through the platform to find gaps in teaching.
The company graduated from the Singapore Press Holdings-backed SPH Plug & Play Accelerator in 2015 and secured $1.5m in a pre-series A round led by angel investor Arthur Kho the same year.
Kejora Ventures and Welight Capital provided $5m for Snapask in a 2017 round that reportedly took its total funding to $8m. It reportedly raised $15m in an April 2018 round led by private investor Xie Zhan.
Snapask also named Ondine Capital and individuals Cai Wensheng, Chatchaval Jiaravanon and Tony Zhang as earlier backers this week.
