Yunxuetang, a China-based online professional course provider backed by quantitative trading firm Susquehanna International Group (SIG) and internet group Tencent, completed a $190m series E round today.
Venture capital firm Matrix Partners China led the series E2 tranche, which was filled out by Sequoia Capital China and Hundreds Capital. The company secured over $100m in a series E1 close in January this year featuring Tencent, and the most recent close took its valuation to more than $1bn.
Founded in 2011, Yunxuetang provides cloud-based training courses for enterprise customers, covering areas including software-as-a-service technology, content creation and operation digitalisation. Organisations can also produce bespoke programmes on the platform.
The company will use the money to improve its artificial intelligence technology and software, build out its IT infrastructure and data centres and enhance its content creation ecosystem.
Yunxuetang had previously received $100m in a January 2020 series D round led by private equity firm Centurium Capital that also featured SIG and Yunfeng Capital.
Yunfeng Capital had led a $50m series C round for the company in 2018, investing alongside SIG, which had led a $22m series B the year before that included private investor Li Qi. It had previously raised $14m in series A funding from undisclosed backers in 2014.
