Alibaba Group Leads $100M Series B Round For TutorGroup

Shanghai-based online education platform and English-language learning institution TutorGroup has raised US$100 million in series B funding, according to an announcement made by the company’s official Weibo account.

Alibaba Group led the round. Temasek Holdings and existing investor Qiming Venture Partners also participated.

TutorGroup previously received US$15 million in series A funding from Qiming in 2012.

The company says it will use the proceeds to strengthen its leading position in Asia and expand its footprint in the Americas.

Founded by brothers Eric Yang and Ming Yang in 2004, TutorGroup provides real-time language learning through online class sessions.

It has students in 40 countries and hosted more than 5 million classroom sessions through its four branded service platforms, including VIPABC, TutorABC and TutorABCJr. for English training, as well as TutorMing for Mandarin Chinese teaching.

TutorGroup says that the adult English learning sector in China is growing at 25% per year. The industry will expand to US$21 billion in 2016.

Last month, London-based private equity firm CVC Capital Partners has agreed to invest over US$200 million into Beijing-based Chinese education firm EIC Group Ltd.

Around the same time, Beijing-based after-school tutoring services firm TAL Education Group acquired a minority stake of Chinese pregnancy and parenting portal operator Babytree Inc. for US$23.5 million.

Last December, Beijing-based online English teaching website 51Talk received US$12 million in series B funding from Shunwei China Internet Fund and U.S.-based venture capital firm DCM.

China Expert network