[Update] Alibaba Leads $100 Million Series B Financing in Language-learning Service TutorGroup

Online education service TutorGroup is closing a nearly $100 million USD round of Series B financing from Alibaba Group, Singapore investment company Temasek and Qiming Venture Partners. [Update] TutorGroup announced this March that SBI Group (formerly known as Softbank Finance Group) invested in the company through its education-focused fund SBI-Fudan Fund as a strategic partner.

TutorGroup plans to use the funding to accelerate further growth across Asia market, and also expand its presence in the Americas. The company has raised $15 million in Series A from Qiming Venture and CyberAgent in 2012.

Although TutorGroup’s research and development group is based in Silicon Valley, most of its offices are spread across Asia. Founded in 2004, it now runs four brands of English-learning site VIPABC, TutorABC, English-learning service for youth TutorABC Jr (8-18 years old) and TutorMing for Mandarin Chinese.

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