TutorGroup, an online English language learning platform raised a $100 million Series B with participation from Alibaba Group, Singapore investment company Temasek and Qiming Venture Partners.
TutorGroup previously raised $15 million from Qiming Venture Partners in April 2012. Founded in 2004, the company has hosted more than 5 million classroom lessons until today and offers a collection of more than 10.000 hours of personalized course content.
TutorGroup also offers Chinese lessons to international learners through the TutorMing portal. To celebrate the latest round of funding, TutorMing is currently offering scholarships for learners in the United States and Singapore.
TutorGroup features a very unique mix of software powered recommendations and live teacher interaction. The platform automatically recommends an optimal class size and learning pace along with matching content from the back catalog.
The recommendations are based on the student’s history and data analytics that are in turn based on the 5 million+ lessons that have taken place on the platform throughout the years. The more lessons take place on the platform, the better the recommendations become for future students.
The algorithm already seems to work quite well. According to the company’s website students learn an average of three years with TutorGroup’s line of products and have a recurring rate of more than 95% month-over-month.
Students who use TutorGroup’s VIPABC.com and TutorABC.com products have 24/7 access to over 2.000 native speaking teachers, most of them based in the United States and TESOL certified.
Based on the development of Internet connections in China, TutorGroup forecasts an annual growth of 25% for the English language market, reaching $21 billion by 2016. Based on that the company expects triple-digit growth of sales in the years to come.