Chinese homework helper app Zuoyebang closes $150m series C

Visual of Zuoyebang homepage. October 2016.

Beijing-based mobile homework app operator Zuoyebang has completed a $150-million series C round led by Chinese venture capital firm H Capital.

Tiger Global Mauritius Fund and investors from previous rounds including Sequoia Capital, Legend Capital, Granite Global Venture and Xianghe Capital also joined in the Series C.

The funds would be used to improve teaching materials and expand the team, Zuoyebang’s chief executive Hou Jianbin said in a statement.

Zuoyebang, a spin-off from Baidu Inc, is an online platform that helps K-12 students search for solutions to their homework.

It also offers a live streaming platform, Zuoyebang Yike, to give instructions and tests in all subjects covering elementary, middle and high school levels.

It claims to have 60 million active users each month with over a 70-per-cent market share in the K12 online education market.

The education tech startup raised a $25 million series A round from Sequoia Capital and Legend Capital in 2015 and a $60-million series B round led by Granite Global Ventures and Xianghe Capital in 2016.

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