The Yigull education team has more than 500 people, of which 60% are technical research and development personnel.
It was learned that the education industry SaaS service providerYingou Education Announced the completion of US$265 million in Series C financing. This round of financing was led by Hillhouse Ventures, followed by Tencent, SIG, Changce Capital and Gaocheng Capital. Regarding financing purposes, Song Junbo, founder and CEO of Yiou Education, told me that it will be mainly used for the accumulation and research and development of the underlying technology of education, further promoting the OMO (Online-Merge-Offline) strategy, and assisting education informatization.
This is also the second financing completed by Yiou Education this year. In July of this year, Yiou Education received tens of millions of dollars in Series B financing from the Capital Capital.
Yingou Education was established in September 2014, mainly engaged in the development and operation of “online interactive classrooms”, and released the world’s first online interactive classroom-ClassIn in November 2015. It has been committed to the development of an online live broadcast system in the service education field, and through the use of a variety of technologies, it enables remote teaching to achieve classroom teaching comparable to offline scenarios.
This year’s sudden epidemic has completely disrupted the rhythm of offline teaching and greatly increased the penetration rate of online education. For low-level service providers such as Yigull Education, it has undoubtedly accelerated its evolution. It is understood that in addition to the promotion of Yiou Education’s own brand, 25-30% of the institutions on its platform have also greatly exceeded the previous performance.
In terms of the specific impact, Song Junbo, founder and CEO of Yiou Education, said: “During the entire epidemic, our internal knowledge of the industry has been changing. When the epidemic first began, we focused on education and training. ; In the middle and late stages of the epidemic, it moved inside and outside the system. Because of the practice of all-staff online teaching, the government and parents’ understanding of online education has undergone a fundamental change. The new thing of online teaching has become New normal.”
In his view, it can be seen from the supply that many entrepreneurs and investors in the education field have undergone many changes; in terms of demand, teachers’ daily lesson preparation and online teaching hours are slowly increasing. Everyone has seen the value of the underlying service providers, and the overall trend has moved a lot forward.
In 2020, ClassIn users will expand to universities, primary and secondary schools and overseas schools from the previous education and training industry. Among them, Peking University, Tsinghua University, University of Science and Technology of China, Shanghai Jiaotong University, Beijing Normal University, East China Normal University and other well-known high schools, as well as Renmin University High School, Peking University High School, Beijing Fourth High School, Shanghai Foreign Affairs High School, Beijing 101 High School, etc. Middle schools have begun to use ClassIn in normalized teaching. In the field of education and training, including New Oriental, Good Future, 70 of the training institutions with revenues over 100 million % Has become a partner of Yigull Education.
In overseas markets, world-renowned universities such as Roland University in Hungary, Alcala University in Spain, and Abu Dhabi University in the United Arab Emirates all use ClassIn as an online learning platform. Currently, Yiou Education’s partners cover 60,000 school and institutional customers in 35 countries and regions around the world, and 20 million monthly individual users cover 150 countries and regions.
Online classroom
On November 23, ClassIn released a new product ClassIn XThe electronic classroom brings the interactive mode of the online classroom to offline. In terms of functions, the new product can run on all mainstream electronic whiteboards, supports multi-terminal real-time interaction of mainstream file formats, supports multi-screen interconnection, and integrates massive high-quality educational resources.
Before 2020, online education and offline education were regarded as completely different models. However, after the epidemic, the two are no longer viewed separately. The data requirements of teaching, learning, training, testing and evaluation make OMO an inevitable trend in future education. ClassIn’s first-generation products are a typical pure online model leading the traditional teaching effect. Today’s second-generation products have completed the integration of offline and online, and comprehensively improved the effect and efficiency of institution operation, teacher teaching and student learning.
“The application of colleges and universities, primary and secondary schools in daily teaching has proven the effectiveness of interactive teaching tools.” Song Junbo said, “In the future, education will no longer distinguish between online and offline, in different links of teaching and learning. You can choose the form according to your needs.”
After working with the education industry to respond to the epidemic, the next goal of Yiou Education is to connect content, space and teachers and students in normalized teaching, and complete efficient teaching infrastructure upgrades for schools and institutions. Realize the common improvement of teaching effect and business efficiency.
Currently, the Yigull education team has more than 500 people, of which 60% are technical R&D personnel. Song Junbo said that the team will continue to optimize products to provide assistance for the overall upgrade of education and teaching.
Huang Liming, a partner of Hillhouse, the lead investor and head of Hillhouse Ventures’ software and hardware technology, said: “Yingou Education team let us welcome Xidi sees the future shape of the education industry-as the industry’s leading education technology software, ClassIn has provided online empowerment for tens of millions of users in more than 150 countries and regions around the world. This enterprising team is continuing to provide assistance for the digitization of offline teaching scenarios. Hillhouse has a strong position and will continue to invest in outstanding Chinese SaaS companies. We believe that with the team’s original intention and strong execution, Yiou Education will continue to create value Accelerate the reform of the education industry.”