Chinese K-12 education sector is attracting lots of startups as online education is in full swing here. There are around 200 million elementary and high school students in China, moreover, Chinese parents are known for their willingness to invest heavily in education of children, mostly of whom are single child of the family.
17zuoye (the name translates to Homework together) is an online study platform targeted at Chinese K-12 space. As the name suggests, it creates an online collaborative space for teachers, parents and students to do homework together. The company secured US$20 million Series C round financing from Tiger Management, H Capital and Shunwei Capital at a valuation of around US$100 million.
17zuoye focuses on providing services and products for primary mathematics and English learning. In addition to bring homework online, the platform also offers data-driven analytic reports on students’ performances on key knowledge points, student performance by regions, etc.
Founded in 2011, the company now registered 7 million student users, 146K teacher users and cooperates with nearly 30K schools countrywide.
After receiving angel funding from Chinese entrepreneurs and angel investors Wang Qiang and Xu Xiaoping in 2011, the Beijing-based startup landed US$5 million of Series A funding from Shunwei Capital in 2012 and US$10 million Series B funding in 2013.
Liu Chang, CEO and co-founder of 17zuoye, is a former exec at China’s top private educational service New Oriental. Management team of the firm comes from Chinese Internet companies like Sina, Baidu, Tencent, Alibaba, Jumei, and education institutions like New Oriental, TAL.
image credit: 17zuoye