Northern Light Venture Leads $20M Series B Round In Vipkid

Beijing-based online education start-up Vipkid has completed US$20 million series B round of financing led by Northern Light Venture Capital, according to a news article posted on its Weibo account.

Existing investors Matrix Venture Partners, Innovation Works and Sequoia Capital also participated.

Vipkid says it plans to use the proceeds on improving its teacher network and video teaching products.

Founded in 2013, Vipkid provides one-on-one video teaching sessions for Chinese children between 5 to 12 years old with teachers based in North America.

The company received angel investment from Innovation Works in 2013, and completed US$5 million series A from Matrix, Innovation Works and Sequoia Capital in 2014.

The company says it has paid users of 4,000 students with 50,000 students who have experimented its products.