China’s online one-on-one English education platform DadaABC has raised $100 million in a series C funding round participated by US investment firm Tiger Global Management and New York Exchange-listed TAL Education, according to a China Money Network report.
The company, founded in 2013, said it will use the funds to further develop teaching curriculum and online technology. It claims to have tens of thousands of paid students from China, Japan, France, and Germany.
The latest funding round followed a series B+ round in December 2016, which raised millions of RMB from Shenzhen-based venture firm Oriental Fortune Capital.
DadaABC’s series B round in 2016 also raised millions of RMB from Yonghua Capital, a micro-venture capital fund focused on investments in high-technology enterprises.
DadaABC offers one-on-one online tutoring delivered by native English speakers, targeting children aged 4 and 16. Its partners include the American TESOL Institute, Pearson Test of English Academic, Highlights, and National Geographic Learning.
It obtained exclusive rights to teach the online course “Reach” in China, which is currently being used in over 1,000 schools in the US.
On its website, DadaABC said it has secured over 10,000 native English teachers to help each student improve their daily conversational skills, expand their vocabulary, and build their confidence to communicate with others in English.