Internet group Tencent has provided more than $100m in series E1 funding for China-based online training platform developer Yunxuetang, DealStreetAsia reported on Tuesday.
Yunxuetang has built an online platform that provides corporate training on behalf of clients including restaurant chain KFC, on-demand ride provider Didi, telecommunications firm China Mobile, consumer electronics manufacturer Lenovo and carmaker SAIC Motor.
The platform utilises technologies such as artificial intelligence, cloud computing and big data, and the funding will support further development of those technologies.
The round brought the company’s overall funding to roughly $300m and comes after a $100m series D round in January 2020 led by private equity firm Centurium Capital and backed by quantitative trading firm Susquehanna International Group (SIG) and private equity firm Yunfeng Capital.
Yunxuetang raised $14m from undisclosed investors in a 2014 series A round before SIG led a $22m series B three years later that included private investor Li Qi. Yunfeng Capital led the company’s $50m series C round in 2018, investing together with SIG.
