Online education platform and English-learning institution TutorGroup announced it has raised $100 million in strategic funding from Alibaba, Temasek Holdings, and Qiming Venture Partners. The latest figure adds to its $15 million round raised in April 2012.
According to a report by VentureBeat, with its new funding from Chinese and Singaporean investors, it plans to build its brand within the Asia region. Since incorporating in 2004, the online education platform currently hosts more than 10,000 hours of course content, has educated students across 40 countries, and has hosted more than 5 million sessions through its four products, namely VIPABC, TutorABC, TutorABCJr, and TutorMing. TutorMing is also offering a scholarship for students in the United States and Singapore to learn the Chinese language, in celebration of the new funding.
In the same report, the company spokesperson also said that the online education platform differentiates its product from others in the market by being “personalized”; with course content all made by teachers, rated by real students, and constantly updated and checked for errors and accuracy. It is also available for learning anytime and anywhere, even from mobile devices using its TutorMobile classroom apps, which is available in both iOS and Android.
It also plans to go beyond the scope of online language learning by venturing into other sectors, such as wine education classes taught by practitioners and experts in their respective fields.
(Hat Tip: VentureBeat)
(Editing by Terence Lee)
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