SBCVC Leads $20M Series B In Online Education Firm XueXiBao

Beijing-based online education platform XueXiBao has completed US$20 million series B financing led by SB China Capital (SBCVC), according to Chinese media reports.

Existing investors GSR Ventures also participated.

The company says it will use the proceeds on product development and expansion.

Launched in May 2014, XueXiBao provides test preparation database for middle and high school students in China via its mobile app platforms. The company says it has registered users of over ten million.

In July 2014, similar start-up completed US$15 million new round of financing from existing investors Matrix Partners China and IDG Capital.

In September, 2014, Chinese online IT education platform JiKe Academy raised US$22 million series B financing from SIG China and BlueRun Ventures.

China Expert network