Educational firm EEO gains $265m in latest fundraising round

EEO, a Chinese software-as-a-service provider in the education field, announced that it has raised $265 million in its series C round of fundraising, as the company has continued to beef up the integration of online and offline education amid the COVID-19 pandemic.

Led by Hillhouse Capital's venture capital firm, the fresh round also attracted investors including Tencent Holdings, SIG, INCE Capital and Gaocheng Capital.

"Today, the form of communication between people has become 'coffeehouse plus WeChat'. In the future, education will also quickly move toward an era of 'online plus offline classroom'," said Song Junbo, founder and CEO of EEO.

"As EEO helps schools and institutions to build their online capabilities, the company will also continue to drive the digitization of offline teaching scenarios," Song said.

Founded in 2014, EEO's ClassIn is the world's first online interactive classroom product. During the pandemic outbreak this year, ClassIn has helped over 10,000 offline education institutions to transform from offline to online.

It launched ClassIn X electronic classroom recently, which aimed to provide simple but powerful online and offline integrated teaching solutions to the education sector.

"It is from EEO that we are happy to see the future form of the education industry. ClassIn has provided online empowerment for tens of millions of users in more than 150 countries and regions around the world," said Huang Liming, partner of Hillhouse Capital.

"We believe that EEO will continue to create value and accelerate the transformation of the education industry," Huang said.