Shunwei Leads $12M Series B Round for 51Talk

Beijing-based online English teaching website 51Talk says it has raised US$12 million in series B funding.

Shunwei China Internet Fund, also based in Beijing, led the round. Existing investor U.S.-based venture capital firm Doll Capital Management (DCM) also participated.

51Talk received angel funding from Zhen Fund in 2011 and several millions of U.S. dollars series A funding from DCM in 2012.

The company says it will use the proceeds to improve online teaching services and develop homegrown communication tools to replace currently adopted Skype and QQ.

Established in 2012, 51Talk provides one-to-one e-learning courses at affordable prices. It currently has more than 1,000 foreign teachers, mainly from the Philippines, and more than 200 operation staff.