Online language live tutoring company TutorGroup raises $15 million in growth financing
Parent company of TutorABC.com and VIPABC.com, TutorGroup has raised $15 million in growth financing from Qiming Venture Partners. It is expected this investment will fund expansion of the online language live tutoring company’s services throughout China.
Mr. JP Gan, Managing Partner of Qiming Venture Partners, said in a press release: “We value the tremendous potential of TutorGroup’s scalability, augmented by worldwide teaching resources via internet; TutorGroup’s tutors and customers are all situated all around the world, a true practice of globally operating business model.” He added, “We look forward to building a great company together and becoming the world’s largest online education platform.”
Dr. Eric Yang, TutorGroup’s CEO, said: “Teaching is noble and virtually still a service business. TutorGroup embraces e-learning 2.0 and strives for each customer to take control of and maximize the use of their time in learning. The internet has flattened the world, and it has changed the fundamental landscape of education. We will continue to bring disruptive innovation into this evolving frontier. TutorGroup’s quality of education is built upon our ‘Education as a Service’ philosophy.”
Read the full release at Yahoo Finance.