Chinese corporate training service provider Yunxuetang has raised $100 million in a Series D round led by private equity firm Centurium Capital, with participation from existing investors YF Capital and Susquehanna International Group (SIG), the company announced in a statement.
The round brings the company’s total funding to $200 million, said to be the most funded one in China’s corporate training field. The company said it will use the proceeds to improve services and build “a content ecology” that will aggregate professional corporate training mentors and institutes to deliver personalized and intelligent learning content.
Founded in 2011 as a full-stack provider of corporate learning solutions in software, content and service, Yunxuetang leverages artificial intelligent, cloud computing and big data to offer both free and paid online courses and software to customers based on a freemium model. Using the above technologies, the company builds an intelligent learning platform to provide enterprises and employees with comprehensive intelligent learning support.
Based on the ecological collaborative content service model, Yunxuetang provides massive high-quality content and intelligent precise matching services to tailor learning content for customers and users. The company also has set up local one-on-one learning operations and consulting services that provide customers with a variety of three-dimensional, including remote assistance, intelligent customer service, and on-site services. Yunxuetang also enables corporate clients to develop and operate online training software customized to their employees.
Yunxuetang claims to have so far served thousands of large-scale enterprises and nearly 30,000 small and medium-sized companies, including Chinese pharmaceutical company Tong Ren Tang, Hong Kong-listed hot pot restaurant chain Haidilao, Chinese ride-hailing service Didi Chuxing, Chinese Starbucks challenger Luckin Coffee, and electric vehicle maker NIO, among others. With two headquarters in Beijing and Suzhou, the company currently has over 20 branches across major cities in China.
While Yunxuetang generates revenue by offering paid curriculums, services and software to its clients, it offers SMEs free access to its software.
Needless to mention, Yunxuetang has raised $50 million in its Series C round led by YF Capital with participation from SIG in 2018. The company also received $22 million in its Series B round from SIG in 2017.