China-based English language learning app secures Series C
CMC Capital Partners and Wu Capital – a Beijing-based family office for Longfor Properties – have jointly led a Series B round of funding for Liulishuo, a language learning app powered by artificial intelligence (AI).
Financial terms were not disclosed but the company told a media conference that the investment is close to $100 million. Trustbridge Partners, IDG Capital, GGV Capital, Cherubic Ventures and Hearst Ventures also took part in the round.
Shanghai-based Liulishuo, which means “speaking fluently” in Chinese, was founded in 2012 by two former product managers and research scientists at Google. The company aims to use AI and big data technology to personalize English learning for Chinese users, allowing them to study more efficiently.
Its flagship product – English Liulishuo – offers online English courses, games, and social media to practice written and spoken English. Users can win points when they move to next level and communicate with fellow students. The app has more than 42 million registered users.
Last year, the company launched an AI-based learning product, called Dong Ni Ying Yu, which provides personalized learning content and study plans. It can also evaluate an individual's English writing and speaking capabilities. The app has about 600,000 paid users.
Liulishuo - which turned profitable in February - raised an angel round from GGV, Cherubic and IDG in 2013 and then a Series A of undisclosed size the following year. In 2015, the company raised $42 million in a Series C round from IDG, GGV, Trustbridge Partners, Hearst, and Cherubic.
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