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INTERNET | Internet Software & Services / Education & Training
abc360.com

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Founded Year

2011

Stage

Series C | Alive

Total Raised

$97.12M

Last Raised

$80.21M | 3 yrs ago

About ABC360

ABC360 is an online language course company that matches students with English teachers. In 2017, ABC360 launched an online English tutorial brand Landi English.

ABC360 Headquarter Location

5th Floor, Building B, Yingfeite Tower No. 459 Jianghong Road, Binjiang District

Hangzhou, Zhejiang ,

China

4006-888-360

Latest ABC360 News

China: LeTV raises $153m, Guo Jin leads $15m round in ABC360

Mar 4, 2016

anirvan@dealstreetasia.com March 4, 2016: &nbsp Cloud computing service platform LeTV has raised $153 million, while early stage investment firm Guo Jin has led a $15 million round in online English learning platform ABC360. China’s LeTV raises $153m from Chongqing Industrial Investment Fund LeTV Cloud , a cloud computing service platform, has raised RMB1 billion ($153 million) from state-owned  Chongqing Industrial Investment Fund . The deal will reduce LeTV’s equity holding to 50 per cent, from the current 60. The Chongqing fund will have a 16.17 per cent stake, according to a regulatory filing. LeTV Cloud is owned by Leshi Internet Information & Technology , a online video company listed on ChiNext. The funding will be used for product development, hiring more people, marketing and expanding to more geographies. LeTV Cloud aims to sign up 100,000 enterprise users in broadcasting, education and sports sectors. It has previously expanded into sectors such as e-commerce and smart TVs. It raised $129 million last year from Yunfeng Capital and Dalian Wanda Group, and spun off its sports channel. It also acquired a majority stake in Yongche.com , a car rental and cab-hailing app. LeTV was founded in 2006 and went public four years later. In 2011, it set up Le Vision Pictures, a Chinese movie production house that also finances and distributes Hollywood imports in the country. The Chongqing fund was launched last year with a corpus of RM80 billion, with lead investments from Chongqing Finance Bureau and Chongqing Yufu Assets Management Group. Guo Jin leads $15m round for China education platform Shenzen-based venture capital firm Guo Jin Capital has led a $15 million series B round in ABC360 , an online English learning portal. Other investors include Tencent Incubator and Zero2IPO, an education-focussed VC firm owned by Zero2IPO, a Chinese investment firm, according to a statement. Guo Jin has over RMB1 billion under management across six funds. ABC360 is present mainly in tier 1 cities and is looking to expand into smaller cities. The startup hires teachers from the Philippines and matches them with students, who pay for the service. It has four centers in Southeast Asia, and generates RMB10 million from about 40,000 paid users. It will use the funding to improve user experience and provide training to teachers to have a standardized level. The company had raised seed funding from Shanghai CCI Investments in April 2014, and followed it up with a series A round in which Sino Wisdom Capital and a fund affiliated with Alibaba Group were the lead investors. Also read:

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Research containing ABC360

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CB Insights Intelligence Analysts have mentioned ABC360 in 1 CB Insights research brief, most recently on Aug 31, 2020.

Expert Collections containing ABC360

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

ABC360 is included in 1 Expert Collection, including Education Technology (Edtech).

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Education Technology (Edtech)

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