Beijing-based Chinese educational institution Universal Education Group has received tens of millions U.S. dollars in series C financing from the country’s largest search engine Baidu, Inc., according to Chinese news report.
Three years later, DCM, Sequoia Capital and Singaporean private equity group F&H Fund Management participated in a US$20 million series B round.
Founded in 2007, Universal Education focuses on training for university students in China, including training for postgraduate entrance exam, civil servant recruitment examination, and career development.
Universal Education now operates branch offices in 25 provinces in China, and its network covers more than 200 colleges and universities.
Last year, one in 66 of its students were recruited as civil servant in China, and one in three passed the postgraduate program.