TutorGroup Receives Strategic Investment from SBI Group

Shanghai-based online education platform and English-language learning institution TutorGroup has received strategic investment from SBI Group, according to media reports.

SBI Group invested in TutorGroup through its education-focused fund SBI-Fudan Fund, but the investment size was not disclosed.

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

Last month, the company received $100 million series B funding from Alibaba Group, Temasek Holdings and Qiming Venture Partners.

SBI Group will provide strategic counsel and local expertise to TutorGroup in its process to expand into new markets across Asia, including Japan.

Fudan-SBI Fund was jointly established by SBI Group and Shanghai Fudan Forward S&T Co., Ltd under Fudan University, with focus on investments in education and related sectors.

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.

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