• Home
  • News
  • Analysis
  •  
    Regions
    • Australasia
    • Southeast Asia
    • Greater China
    • North Asia
    • South Asia
    • North America
    • Europe
    • Central Asia
    • MENA
  •  
    Funds
    • LPs
    • Buyout
    • Growth
    • Venture
    • Renminbi
    • Secondary
    • Credit/Special Situations
    • Infrastructure
    • Real Estate
  •  
    Investments
    • Buyout
    • Growth
    • Early stage
    • PIPE
    • Credit
  •  
    Exits
    • IPO
    • Open market
    • Trade sale
    • Buyback
  •  
    Sectors
    • Consumer
    • Financials
    • Healthcare
    • Industrials
    • Infrastructure
    • Media
    • Technology
    • Real Estate
  • Events
  • Chinese edition
  • Data & Research
  • Weekly Digest
  • Newsletters
  • Sign in
  • Events
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)870 240 8859

      Email: customerservices@incisivemedia.com

      • Sign in
     
      • Saved articles
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • LinkedIn
    • Newsletters
  • Free Trial
  • Subscribe
  • Weekly Digest
  • Chinese edition
  • Data & Research
    • Latest Data & Research
      2023-china-216x305
      Regional Reports

      The reports review the year's local private equity and venture capital activity and are filled with up-to-date data and intelligence on fundraising, investments, exits and M&A. The regional reports also feature information on key companies.

      Read more
      2016-pevc-cover
      Industry Review

      Asian Private Equity and Venture Capital Review provides an independent overview of the private equity, venture capital and M&A activities in the Asia region. It delivers insights on investments made, capital raised, sector specific figures and more.

      Read more
      AVCJ Database

      AVCJ Database is the ultimate link between Asian dealmakers and those who provide advisory, financial, legal and technological services to the private equity, venture capital and M&A industries. It is packed with facts and figures on more than 153,000 companies and almost 117,000 transactions.

      Read more
AVCJ
AVCJ
  • Home
  • News
  • Analysis
  • Regions
  • Funds
  • Investments
  • Exits
  • Sectors
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)870 240 8859

    Email: customerservices@incisivemedia.com

    • Sign in
 
    • Saved articles
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
AVCJ
  • Greater China

Deal focus: Liulishuo bridges the learning gap

  • Winnie Liu
  • 02 August 2017
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Save this article  
  • Send to  

China's Liulishuo wins $100 million in funding for an adult-focused education app that uses artificial intelligence to bring customized teaching solutions to English language learners

The emphasis placed on written tests and the paucity of native English-speaking teachers in China’s traditional educational establishments means that many students emerge without a strong grasp of the language.

Yi Wang wants to help them with their pronunciation. In 2013, the ex-Google employee launched Liulishuo, an app that uses voice recognition and artificial intelligence (AI) technologies to compare sentences spoken by native speakers and the Chinese learners. Based on the results, it gives scores and learning tips.

“In the early days, the technology wasn’t as smart as it is now, but the company has always been working on that vision. When AI and machine learning started to become more mature and reliable between 2014 and 2015, the company began adopting those technologies very quickly,” says Matt Cheng, managing partner at Cherubic Ventures, a seed investor in Liulishuo alongside GGV Capital and IDG Capital.

The same investors returned for a Series A in 2014 which was joined by Hearst Ventures. A year later, the start-up raised a $42 million Series B at a valuation of $200 million, led by TrustBridge Partners. Last week, it received about $100 million in Series C funding led by CMC Capital Partners – the GP’s first investment in this field – and Beijing-based family office Wu Capital. All the existing investors re-upped.

While most education platforms focus on K-12 education, Liulishuo targets adults, which Cheng sees as an untapped market. The company’s teaching methodology also differs from other operators, which tend to base lessons on either hard-to-digest academic courses or fragments from English language movies and songs. There is no systematic approach to helping people improve.

Liulishuo creates interactive courses using online games and social activities based on standard teaching curriculums. With 45 million registered users, it also has a large collection of samples of Chinese people speaking English with common errors. This resource underpinned last year’s launch of Dong Ni Ying Yu, which provides personalized study plans. The AI-powered in-app function evaluates and adapts to an individual student’s capabilities. Priced at RMB99 ($15) per month, it has already attracted 600,000 paid users. Liulishuo turned profitable in February.

“Many investors are interested in the company and ask it to go after the K-12 market, but I think in the mid-term, the adult market is limitless – there are no competitors, and adults are willing to pay,” Cheng says. “Secondly, as a software service provider, Liulishuo can empower other traditional peers by using its AI technology, just like Google. It doesn’t need to go offline.” 

Indeed, in line with the new funding, Liulishuo announced a partnership with US-listed Chinese K-12 after-school tutoring services provider TAL Group, under which the company’s English speech assessment technology will be integrated into TAL’s English learning products.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Save this article  
  • Send to  
  • Topics
  • Greater China
  • Expansion
  • Technology
  • China
  • Education
  • TMT
  • China Media Capital
  • Cherubic Ventures
  • IDG Capital Partners
  • GGV Capital

More on Greater China

hkma-yichen-zhang
Lower valuations, less leverage could drive China PE returns - HKMA Forum
  • Greater China
  • 09 Nov 2023
power-grid-electricity-energy
Energy transition: Getting comfortable
  • Australasia
  • 08 Nov 2023
jean-eric-salata-baring-2019
Q&A: BPEA EQT’s Jean Eric Salata
  • GPs
  • 08 Nov 2023
airport-travel
Asia’s LP landscape: North to south
  • LPs
  • 08 Nov 2023

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs
  • 10 November 2023
housing-house-home-mortgage
Singapore fintech start-up LXA gets $10m seed round

New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.

  • Southeast Asia
  • 10 November 2023
india-rupee-money-nbfc
India's InCred announces $60m round, claims unicorn status

Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”

  • South Asia
  • 10 November 2023
roller-mark-luke-finn
Insight leads $50m round for Australia's Roller

Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.

  • Australasia
  • 10 November 2023
Back to Top
  • About AVCJ
  • Advertise
  • Contacts
  • About ION Analytics
  • Terms of use
  • Privacy policy
  • Group disclaimer
  • RSS
  • Twitter
  • LinkedIn
  • Newsletters

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013