Zhihu, the China-based online question-and-answer platform backed by internet group Tencent, confirmed on Wednesday that it has raised $270m in series E funding, China Money Network reported.
The company did not disclose the participants in the round but the news came weeks after local press reports suggested it had received $300m in the series E round at a $2.5bn valuation, with existing backers Tencent and private equity firm Capital Today among the investors.
Zhihu is the owner of an online community with a reported 160 million registered users and 26 million daily active users who can ask questions and crowdsource the answers.
The funding will support the creation of what China Money Network referred to as a national knowledge content platform, as well as the strengthening of Zhihu’s artificial intelligence technology and the commercialisation of the offering.
The company has now raised a total of approximately $457m, including $100m in a January 2017 series D round featuring Tencent, Capital Today, internet company Sogou, venture capital firm Qiming Venture Partners and investment firm Sinovation Ventures.
Tencent had already led a $55m series C round for Zhihu in 2015 that reportedly valued it at $300m. Private equity firm SAIF Partners, Qiming Venture Partners and private investor Kai-Fu Lee are all among the company’s earlier backers.