China K12 education platform Xuele raises $200m Series C

Launched in 2014, Xueleyun provides online study materials based on K-12 educational curricula to students, teachers, education authorities and third-party organizations. The company claims that its teaching materials have been used in more than 54,000 schools in 26 Chinese provinces, municipalities and autonomous regions.

The new funding will be used to scale up the company's business, develop new technology and establish a new database. Part of the funds will also go towards marketing and hiring, according to a statement posted on Xueleyun's official Weibo account.

According to Xueleyun, education spending accounts for nearly 40% of household income among China's middle class, and the company expects the K-12 education market to eventually be worth more than $10 billion. It believes its AI software gives it an edge in providing lesson plans customized to fit student needs.

Both New Horizon and GSR have made previous investments in Chinese online education platforms; New Horizon co-led a $60 million Series D round for Yuantiku last year, while GSR has supported Xuexibao with a $3 million Series A round in 2014 and a $20 million Series B round, led by SoftBank China Venture Capital, in 2015.

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• Topics
• Greater China
• Media
• Technology
• Expansion
• China
• TMT
• GSR Ventures
• New Horizon Capital
• Education