New York Stock Exchange-listed Chinese education firm TAL Education Group has invested US$18 million series C+ round in Shanghai-based education online-to-offline (O2O) operator Changingedu.
The investment follows a US$100 million series C round led by TAL Education in the company in June 2015, with existing investors IDG Capital, Sequoia Capital and TBP Capital participating.
The latest round highlights the two parities’ deepened partnership as they strive to create a more comprehensive education curriculum and integrate more premium teacher resources, according to Chinese media reports.
Changingedu previously raised an undisclosed amount of series A round from IDG Capital and TBP Capital in Feruary 2015, and completed a US$15 million series B led by Sequoia Capital.
It raised a series B+ round in May 2015, without disclosing financial terms. In June 2015, TAL Educaiton led a US$100 million series C round in the company.
Changingedu currently operates in 11 cities in China. Its mobile apps allow parents to make reservations of to-door after-school tutoring services. It has served over 200,000 families.
The company also provides online consultancy, online tutoring, live lesson broadcast and group tutoring services.