In China, Homework Pays: Zuoyebang Raises $350M in Series D Round

Financing

In China, Homework Pays: Zuoyebang Raises $350M in Series D Round

Jul 23, 2018

IT PAYS TO DO HOMEWORK: Zuoyebang, a Chinese education startup that offers a mobile Q&A tool where students can ask for help on their assignments, has raised $350 million in a Series D round led by Coatue Management, a Silicon Valley-based hedge fund. Other investors include Goldman Sachs, Sequoia Capital China, GGV Capital and Primavera Capital Group.

The Beijing-based company previously raised $150 million in its Series C round in 2017, and the year before it nabbed $60 million in its B round.

Founded in 2014 by Baidu, the Chinese internet giant, Zuoyebang is best known for its mobile app that lets students take pictures or record a question, and connect with tutors who will guide them towards answers. The company claims more than 70 million monthly active users and 5 million paid users, reports Caixin Global.

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