<article>Online tutoring startup <a href="https://www.dealstreetasia.com/?s=zuoyebang">Zuoyebang</a> has closed a $350-million Series D funding round led by Coatue Management, it said in an announcement on July 18.</article>

Online tutoring startup <a href="https://www.dealstreetasia.com/?s=zuoyebang">Zuoyebang</a> has closed a $350-million Series D funding round led by Coatue Management, it said in an announcement on July 18.
Other investors in the latest round include Goldman Sachs, Sequoia Capital China, GGV Capital, Primavera Capital Group, Xiang He Capital, Tiantu Capital, New Enterprise Associates and Taihe Capital.
Zuoyebang, a Baidu spin-off, claims to be the largest online K-12 platform in China. It allows students to take a picture of their questions, search for answers and seek mentoring.
It claims to have over 70 million active monthly users on its platform, while paid users of its live streaming platform, Zuoyebang Yike, have grown to over 5 million.
Zuoyebang is targeted at primary and secondary school students, with half of its users based in third- to sixth-tier Chinese cities. Its CEO Hou Jianbin said the fresh capital raised will be used to increase technology investments, hire talent and explore new business models.
Coatue Management managing director Jiang Kai said: &#8220;China&#8217;s education industry is undergoing tremendous changes from offline to online. Zuoyebang will further solidify its leading position in the education industry with its large user base and leading technological innovation capability.&#8221;
The company raised $150 million in its previous round of financing in 2017, with H Capital, Sequoia Capital, Tiger Fund, Legend Capital, GGV and Xiang He Capital among investors.
Its rival VIPKID recently raised a $500-million Series D+ round led by Coatue Management, Tencent, Sequoia Capital China and Yunfeng Capital. The round was said to be the largest ever raised in the online education sector.
Also Read:
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/china-vipkid-500mn-100272/">China: Tencent-backed education startup VIPKID bags $500m Series D+</a>

The Coatue-led round was joined by Goldman Sachs, Sequoia Capital China, GGV Capital, Primavera Capital Group, Xiang He Capital, Tiantu Capital, New Enterprise Associates and Taihe Capital. 

Chinese online tutoring startup Zuoyebang raises $350m Series D

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Chinese online tutoring startup Zuoyebang raises $350m Series D

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