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These are the investments and acquisitions related to part nine of my year-in-review series – “Robots Are Coming For Your Children.”
More money has gone into tutoring startups than any other kind of education company this year. And from what we know about how tutoring exacerbates inequality – that is, how it’s an additional product or service that some families can afford to pay for while others cannot – this isn’t a good signal.
Most of the funding in this sector went to companies from China or India.
Investments in Tutoring and Test Prep Startups in 2017
- VIPKID raised $200 million in August from Sequoia Capital, Tencent Holdings, Sinovation Ventures, and YP Capital. It’s raised $325 million total
- Zuoyebang raised $150 million in August from H Capital, GGV Capital, Legend Capital, Sequoia Capital, Tiger Global Mauritius Fund, and Xianghe Capital. It’s raised some $210 million total
- Yuanfandao raised $120 million in May from Warburg Pincus and Tencent. It’s raised over $244 million total
- Gaosi Education raised $83.5 million in September from AlphaX Partners Fund, China Media Capital, China International Capital Corporation, Loyal Valley Innovation Capital, Sinovation Ventures, and The Hina Group
- Changingedu raised $55 million in October from TAL Education Group, ClearVue Partners, Trustbridge Partners, TAL Education Group, Sequoia Capital, IDG Capital Partners, FREES FUND, ClearVue Partners
- BYJU’s raised $30 million in March from Verlinvest. It also raised $40 million in July from Tencent, bringing its total raised to $244 million
- Acadsoc raised $15 million in November from Shenzhen Capital Group and IDG Capital Partners
- Cuemath raised $15 million in January from CapitalG (formerly Google Capital) and Sequoia India. It’s raised $19 million total
- Ruangguru raised $7 million in June from GSMA
- Magic Ears raised $6 million in August from Bob Xu ZhenEdu Fund and Yuanfudao
- Snapask raised $5 million in June from Kejora, Cai Wensheng , and Welight Capital
- Testbook raised $4 million in April from Matrix Partners India
- Revolution Prep raised $4 million in May from Kennet Partners. It’s raised $9 million total
- MyTutor raised $3.8 million in June from Mobeus Equity Partners, Clive Cowdery, and Thomas Hoegh
- Kings Learning raised $2.5 million in September from Village Capital and the Michael and Susan Dell Foundation
- Clark raised $2.2 million from Lightspeed Ventures, Rethink Education, Flatworld Partners, and Winkelvoss Capital. It’s raised $3.5 million total
- Chalk Talk raised $2 million in March from Ibrahim Haddad. It’s raised $4.5 million total
- Genext Students raised $580,000 in May from undisclosed investors
- Upswing raised $300,000 in January from Crom Carmichael, Jimmy Webb, Mark Clark, Christine Wyatt, and Don Shafer. It raised another $1.5 million in November from Rethink Education, Village Capital, Stanford Graduate School of Business, and Lumina Impact Ventures
- Nactus raised an undisclosed amount of funding in March from Sandeep Aggarwal, Gautam Chhaochharia, and R Balachandar
- Thinkster Math (formerly Tabtor Math) raised an undisclosed amount of funding in April from the Jefferson Education Accelerator. In addition to this mystery money, the company has raised $4.7 million
Investments in “Homework Help” Companies in 2017
- Xueba.com raised $100 million in January from China Merchants Capital, Grand Fight Investment, Anhui Xinhua Media, Qiming Venture Partners, Trustbridge Partners, Vertex Ventures, and Yada Education. It’s raised $120 million total
- Knowbox raised $30 million in October from Bertelsmann Asia Investment Fund, TAL Education Group, Baidu Ventures, and New World Strategic Investment. It’s raised $55.7 million total
- Brainly raised $14 million in October from General Catalyst, Point Nine Capital, Runa Capital, Naspers, and Kulczyk Investments
- Show My Homework raised $2.9 million in January from Local Globe
- Packback raised $1.5 million in September from University Ventures and ICG Ventures. It’s raised $4 million total
Test Prep and Tutoring Acquisitions in 2017
- ST Unitas acquired Princeton Review in January
- Higher Learning Technologies acquired gWhiz in February
- Telegraph Media Group acquired Gojima in May
- BYJU’s acquired TutorVista from Pearson in May and bought Edurite from Pearson in July
- School Specialty acquired Triumph Learning in August
- Varsity Tutors acquired First Tutors in September
- IK Investment Partners acquired Studienkreis GmbH for $85 million in November