Chinese Online Education Platform Genshuixue Raises $50M Series A Funding Led by Hillhouse Capital

Image Source: lovevolutionisnow

Image Source: lovevolutionisnow

Chinese online education startup, Genshuixue has raised $50 million in series A round at a valuation of $250 million, led by Hillhouse Capital.

Launched in June 2014, Genshuixue currently has 70,000 registered teachers and nearly one million registered students. The company’s platform covers almost 70,000 different classes across all age groups. It is a website and a mobile app which allows users to search for courses, both local and online in a variety of subjects. Once users have picked a type of course, they can browse all the teachers of that subject in their area.

The site also includes user comments and verifies details like teacher’s professional qualifications so users can know what they are getting. Once they are done browsing their options, users can register and  pay for their classes online.

Other players in similar space are also getting traction among investors. Like, Yuan Tiku, an app which lets students do practice problems and assessments on their smartphones, completed a $60 million series D round of funding. Another test prep service from China, Xiaozhan Jiaoyu, secured a $29 million series B round led by GGV Capital. O2O education service Haizixue was acquired by Chinese online ratings and deals service Dianping. Direct competitors to Genshuixue like Qingtajiao have also received funds in recent months.

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