VIPKID, an online education company that matches Chinese students with North American teachers, announced in Beijing that the company has completed its series D round financing of USD200 million.
This investment round was led by Sequoia Capital China. Tencent participated as a strategic investor and former investors like Matrix Partners China, Yunfeng Capital, and ZhenFund continued to participate in this round.
VIPKID will use the new investment to further enhance its advantages in self-developed teaching materials, North American teacher growth, and product technology improvement. On the other hand, they will promote their Chinese-language platform business.
At the same time, VIPKID announced plans to launch a new Chinese program for kids named "Lingo Bus". During the beta testing period, this platform already gained 1,053 registered users and 93 paid users.
In addition, as a strategic investor of VIPKID, Tencent announced plans to implement comprehensive strategic cooperation with VIPKID in cloud services, artificial intelligence, and Internet education.