Xuebajun gets a $100m answer for its series C round
Posted on 24 January, 2017 by Robert Lavine, news editor, Global Corporate Venturing
The educational answer provider has now raised a total of $155m since 2014, securing $100m in a series C round featuring Singapore's Vertex Ventures.
China-based educational services app developer Xuebajun has raised $100m in series C funding from investors including Vertex Ventures, which invests as a subsidiary of the Singaporean government, China Money Network reported yesterday.
China Merchants Capital and EasyCapital co-led the round, investing alongside publisher Wanxin Media, as well as Qiming Venture Partners, Trustbridge Partners and, according to Asian Venture Capital Journal, Yada Education.
Founded in 2013, Xuebajun has created a mobile app that provides answers to students’ queries, either through artificial intelligence or online users. Users upload images that display their questions and can receive an answer within three minutes.
Vertex Ventures initially invested $5m in Xuebajun in 2014 before returning for a $50m series B round the following year that was co-led by Qiming and Trustbridge.
See more from this Government Report: Singapore
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