CMC Capital, New Horizon Lead $60M Series D In Yuantiku

Beijing-based online education platform Yuantiku has completed US$60 million series D financing led by CMC Capital Partners and New Horizon Capital, according to Chinese media reports.

Existing investors, Matrix Partners China and IDG Capital Partners, also participated in the round.

The latest round reportedly values the company at US$360 million.

The team behind Yuantiku previously operated another similar online platform called Fenbi.com, which was closed down in 2014. The team now focuses on building Yuantiku, a mobile app that provides exams and exercise databases for Chinese middle school and high school students.

IDG Capital invested approximately RMB10 million in the team’s series A financing round in 2012. The company then received US$7 million series B financing from IDG Capital and Matrix in 2013.

In July 2014, Yuantiku received US$15 million series C financing from Matrix Partners China and IDG Capital.

 
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