ChinaEquity leads Series B round for education site Juesheng
ChinaEquity, a Beijing-based private bank engaging in PE and VC investments, has led a Series B round of funding for Juesheng.com, a Chinese education-focused online marketplace.
New Oriental Education and Technology Group and Linear Venture also participated, according to an internal memo from the CEO that was obtained by local media. The investment size was not disclosed.
Juesheng was co-founded by Zheng Dai, formerly a vice president at online travel site Qunar.com, in 2012. It is a platform for users who are looking for educational services, including examination training, study abroad programs and internship study tours. It aims to become China's largest educational marketplace, following a similar business model to Alibaba Group's B2C e-commerce platform Taobao.
As of the end of February, Juesheng had more than 12,000 teaching organizations worldwide and 10,000 colleges and universities on its platform, serving nearly 3.2 million users.
In June 2013, the comapny secured an angel round from Ameba Capital. In March 2014, it received Series A funding from New Oriental, ChinaEquity and High Ground Capital.
ChinaEquity was founded in 1999 and launched its first US dollar-denominated fund - China-Swiss Fund - in 2000, receiving LP commitments from European family offices, including Porsche and Adidas. The GP also manages four private equity funds and three venture funds, which are renminbi-denominated.
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