Beijing-based education institution Universal Education Group (more commonly known as Wanxue Education) has raised Series C financing from Baidu with participation of HAO Capital, the China-focused private equity firm, and Doll Capital Management (DCM). The company did not disclose financial terms and other details of the investment. But the deal size is rumored to be around tens of millions of dollars, citing a report by Yicai.com.

The proceeds will be used to further grow Wanxue Education’s online education business and promote the development of its cloud-based learning portal, as well as to enhance its online marketing and O2O (online to offline) capacity.

Wanxue Education is a leading Chinese educational institution for professional and academic training for college students. Established in 2006, Wanxue Education is mainly engaged in offering CGAT (China Graduate Admission Test) test preparation training in China, known for its test prep brand Wanxue Haiwen. It also specializes in preparation courses for civil service exams, offering services in 25 provinces, regions, and municipalities across China.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.