(Yicai Global) Nov. 17 -- Educational video provider "Renrenjiang" has obtained CNY10 million (USD1.5 million) pre-A round of financing. Hantan Capital and Rootscap were the principal investors.
Funds from this round of financing will be used in the introduction of new resources, broadband service, hardware and others, reported the online media outlet jiemian.com.
Renrenjiang is an educational live-broadcast brand affiliated with the Beijing Rayclear Technology Co., which penetrates the market through teaching skills. Its main products are paid video programs ranging from 30 minutes to one hour, whose contents mainly fall into two categories: interest and education.
Renrenjiang has over 3 million users, of which 50 percent are users of paid courses of interest category. The monthly retention rate of such users is about 35 percent.
The company used to be a mobile streaming media technology platform and service provider and was previously engaged in providing live video services for enterprises, events and others