Country for PR: China
Contributor: PR Newswire Asia (China)
Wednesday, January 06 2021 - 19:25
China's Leading Online After School Education Start-up Zuoyebang Raises Over US$1.6 Billion in Series E+ Financing
BEIJING, Jan. 6, 2021 /PRNewswire-AsiaNet/ --

Zuoyebang, China's leading online after school education start-up, has raised 
over US$1.6 Billion in its Series E+ financing from investors including 
Alibaba, Tiger Global, Softbank Vision Fund, Sequoia Capital China, 
Fountainvest Partners and Ontario Teachers' Pension Plan Board (Ontario 
Teachers'). Taihecap was Zuoyebang's financial advisor for this round of 

With the new capital, Zuoyebang will continue to focus on developing its core 
business of live streaming courses, enhancing its strength in after school 
education technology and market penetration capabilities, and investing to 
strengthen and expand its existing product portfolios. 

Hou Jianbin, founder and CEO of Zuoyebang, said, "Making quality education 
accessible to all has been Zuoyebang's mission since our inception. It drives 
our growth and continuous efforts to maintain our leading position in 
innovation, penetration and scale. The online after school education sector in 
China is moving into a new phase of development which urges leading players to 
define the market with high-quality, innovative and sustainable growth. The new 
capital will enable Zuoyebang to accelerate our growth, going from strength to 
strength, and to provide better education resources to meet the huge demand in 
the Chinese market."   

Earlier in June 2020, Zuoyebang completed US$750 million in Series E funding, 
joined by leading international venture investors including Fountainvest 
Partners, Tiger Global, Sequoia Capital China, SoftBank's Vision Fund, 
Primavera Capital, GGV Capital, Xiang He Capital, Tiantu Capital, and Taihecap. 

Since it was established in 2015, Zuoyebang has grown into a leader in China's 
online after school education sector. Driven by its innovative technology and 
the largest online question database globally in the sector – with over 300 
million questions – the company provides all-round digital solutions via its 
popular after school education apps that complement the existing public 
education curriculum. These include Zuoyebang Super App, Zuoyebang Live Courses 
App, Zuoyebang Oral Arithmetic Calculation App, and YAYA AI Courses App. 
Notably, by integrating AI-enabled functions to give users one-stop access to 
the whole suite of Zuoyebang products and services, the flagship Zuoyebang 
Super App remains in top place in the education category of the China Apple App 
Store, with more than 100 million monthly active users. Zuoyebang's Paperang 
Printer, a smart hardware device providing leading error-management solutions 
which has gained over 7.5 million registered users, also continues to lead 
market share in its category in China.  

Zuoyebang has the largest user base in China's online after school education 
market with more than 50 million daily active users, 170 million monthly active 
users, and 800 million user-registered devices in total. In the 2020 fall 
semester, the number of enrolled users for Zuoyebang's live streaming courses 
reached a record high of 10 million across the industry, while the number of 
regular full length classes' users has also increased, representing a growth of 
more than 24 times in the past three years – 70% of them from more remote third 
or lower tier cities.

Zuoyebang's sustainable growth comes from its user scale advantage, strong 
geographical penetration, outstanding operational efficiency, and systematic 
quality control. In addition, its overall customer acquisition cost is lowest 
among peers and less than half of the industry average.

Zuoyebang employs over 35,000 staff in China. Headquartered in Beijing, the 
company has expanded its footprint and now has 11 branches across the country 
including in Xi'an, Hefei, Zhengzhou, Wuhan, Chengdu, Chongqing, Jinan, 
Changsha, Nanjing, and Shijiazhuang.

About Zuoyebang

Founded in 2015, Zuoyebang is the largest online after school education 
start-up in China, offering a comprehensive suite of online tutoring products 
and services for students covering all academic subjects. With the mission of 
"making quality education accessible to all," the company is a 
technology-driven online after school education services provider that 
addresses the unmet needs in China's after school education market by 
increasing the coverage and penetration of quality online after school tutoring 
across the country. 

SOURCE  Zuoyebang