Chinese online training platform Yunxuetang raises $100m from Tencent

Chinese tech giant Tencent has invested more than $100 million in online corporate training platform Yunxuetang in its Series E1 round, per an announcement.

It brings the total corpus raised by Yunxuetang to over $300 million.

Yunxuetang had raised $100 million in January last year in its Series D round led by PE firm Centurium Capital with the participation from YF Capital – an investment firm co-founded by Alibaba’s former executive chairman Jack Ma Yun, and Susquehanna International Group (SIG).

YF Capital and SIG had together invested $50 million in Yunxuetang’s Series C round in 2018. Previously in 2017, SIG had solely invested $22 million in the company’s Series B round.

Index Capital, which served as the exclusive financial advisor for Yunxuetang’s Series D round, has facilitated the current transaction.

The funding raised will be used to further develop the company’s AI technology and software product innovations, and facilitate big data and IT platform transformations.

Yunxuetang claims to integrate new generation technologies such as AI, big data, and cloud computing to develop a one-stop training solution for enterprises.

With headquarters in Beijing and Suzhou city, Yunxuetang has served for about 30,000 companies. Its top clients include KFC, life services e-commerce platform Meituan, ride-hailing service Didi, telecom giant China Mobile, Lenovo, and SAIC Motor, among others.

China’s corporate training market size in 2020 reached 769 billion yuan ($119 billion), and is expected to touch 900 billion yuan ($139 billion) by 2025, according to China’s industry and planning consulting major Qianzhan.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.