TutorGroup, an online English language learning platform received additional funding from SBI Group (formerly Softbank Finance Group) through its education-focused SBI-Fudan Fund. Terms were not disclosed.
This additional investment comes only one month after TutorGroup had raised a $100 million Series B from Alibaba Group, Singapore investment company Temasek and Qiming Venture Partners.
According to the press release SBI Group will provide invaluable local expertise as TutorGroup continues their platform expansion across Asia, including Japan in the near future.
“In our investor group, we now have some of the strongest strategic and financial minds across China, Singapore and Japan.”
states Dr. Eric Yang, co-founder and CEO of TutorGroup in the press release.
SBI Group is one of the largest venture capital firms in Asia. Fudan-SBI Fund was jointly established by SBI Group and Shanghai Fudan Forward S&T Co., Ltd under Fudan University, a leading university in China. The fund specializes in investments in education and related sectors
The additional funding will be used to expand TutorGroup’s global operations. This will include rapid hiring for TutorGroup’s Silicon Valley office where the R&D and operations for TutorMing.com, TutorGroup’s Mandarin Chinese education platform are located.
- TutorGroup, World’s Largest English-Language Learning Institute, Adds SBI Group as Investor | BusinessWire
- HEDLINE: TutorGroup raises $100 million Series B | EDUKWEST