(Yicai Global) Sept. 14 -- Acadsoc.com.cn, an online English education site, said today that it has finished its nearly USD15.3 million (CNY100 million) B-series funding round led by IDG Ventures, followed by dozens of institutions including Shenzhen Capital Group Co. and the Shenzhen Talent Fund, Jiemian.com reported.
Acadsoc founder Wang Zhibin said that the funds raised will be used to accelerate the process of upgrading products and services and to promote the popularization of English education.
Acadsoc mainly engages in online one-on-one English training services by foreign teachers, and offers multiple courses such as young learners English, overseas examination preparation, oral English for adults and business English.
Acadsoc boasts more than one million users and its monthly income is tens of millions of yuan, said Wang.
Acadsoc acquired tens of millions of yuan in its A-series funding led by Yingxin Fund, followed by Jiangxi Hanchen Investment Group Co. in August last year.