Shanghai-based English language online learning platform TutorGroup has completed US$200 million series C round of financing from Singapore’s sovereign wealth fund GIC, the Russia-China Investment Fund, Goldman Sachs and Silverlink Capital L.P., says an announcement.
Existing investors also participated in the round, which values TutorGroup at over US$1 billion.
The company says it will use the proceeds on expanding internationally and growing its existing business platform.
TutorGroup also plans to expand its education subjects beyond language learning to other areas such as legal counsel, medical advice, and personal wealth management.
TutorGroup was launched in 2004, and currently has offices throughout Asia and a research and development team based in Silicon Valley.
The company provides real-time interactive language learning with a focus on online English language-learning for adults and K-12 students in the greater China region, as well as international students learning the Chinese language.
In March 2014, TutorGroup received an undisclosed strategic investment from Japanese financial services company SBI Group.
In February 2014, TutorGroup raised US$100 million in series B funding led by Alibaba Group Holdings.
Previously, it received US$15 million series A funding from Qiming Venture Partners in 2012.