Yuanfudao is a Beijing-based online education platform founded in 2012 that provides a range of digital learning products. Its offerings include a live tutoring platform (Yuanfudao), Zebra AI Class, the online question bank Yuantiku, the question-searching app Xiaoyuan Souti and the arithmetic checking app Xiaoyuan Kousuan. The company has established multiple teaching and research centers and branches across China, including Wuhan, Xi’an, Zhengzhou, Nanjing, Chengdu, Jinan, Changsha, Tianjin, Chongqing, Shenyang, Changchun and Hefei. It employs more than 30,000 people. Following its latest financings the company’s valuation rose to US$15.5 billion. Yuanfudao plans to use the new funding to accelerate new curriculum product development and expand its online education service system. Yuanfudao is a Chinese online education company that provides online homework assistance and structured educational plans for students. Its apps were ranked the top education apps in China for in-app purchases between January and March, according to App Annie. The company reports 400 million users and operates 11 teaching and curriculum development centers across China. Demand for its services has surged as social distancing has forced schools to shift classes online. Yuanfudao recently raised $1 billion in funding, leading to a $7.8 billion valuation—more than double its $3 billion valuation from last year. Investors in the company include Tencent Holdings, Hillhouse Capital Group, Boyu Capital, and IDG Capital. Yuanfudao offers a suite of K-12 education services, including live courses, a database of exam problems, and a popular homework-help app that scans problems and provides instant solutions. The company also operates an AI research institute intended to improve its product intelligence. Yuanfudao says it serves more than 200 million users and derives the majority of its revenues from selling live courses. The startup plans to use proceeds from the latest financing to invest in AI research and to improve its apps' user experience. It competes in China’s large, fast-growing online K-12 tutoring market against players such as Zuoyebang and Yiqizuoye. The company was described in the article as a six-year-old startup focused on the exam-oriented Chinese market. Yuanfudao is a Beijing-based online tutoring company that offers live, app-based tutoring to students. The platform reports more than 160 million students using its mobile apps and about 1 million paying users. Tencent is a previous backer of the company. The article does not disclose revenue or other financial details beyond the fundraising. Yuanfudao has attracted major investors in this round, reflecting continued interest in China’s edtech sector. The company’s recent raise places it among Chinese unicorns valued at more than $1 billion.

Total raised

$3.6B

Funding rounds

4

Latest round

Series G

Latest activity

Oct 2020