(Yicai Global) Nov. 2 -- Smartstudy.com has completed its B+ round of financing of USD30 million (CNY200 million) and will develop its international education business in the next phase.
Smartstudy's revenue this year is expected to exceed CNY200 million and its next step will be to develop international education said Wei Xiaoliang its founder and chief executive.
It will continue to invest in its products, content, services and technology (especially in adaptive learning) and accelerate branding. Smartstudy.com, affiliated with Beijing Innobuddy Education Technology Co., adopts the US flipped class model as its teaching mode, and teaches individualized classes based on student data analyses. The company's consumer-end business focuses on online content platform and features on-line star-teacher courses, a question bank and knowledge maps and study abroad services. It has up to 6 million online registered users and 150,000 paying students and an off-line study center to provide teaching and application services.
Its business-end mainly targets English training and overseas educational institutions and universities, providing such smart teaching technologies as educational informatization and artificial intelligence-aided homework correction. It has expanded to 1,200 colleges and universities, 300 middle schools and nearly 100 training agencies in China.
Unbalanced teaching resources, boring study and high time and economic costs are the pain points facing China's education industry, said its investor Cash Capital. The integration of offline+ online, standardization+ customization and emotion+ technology of artificial intelligence, Big Data, virtual reality and other technologies will be the key future drivers of education reform, it added.