Chinese English language tutor ALO7 raises $37.5m in series D
China's ALO7 has raised $37.5m in series D funding for its English language learning products. ALO7, formerly known as Saybot, offers an online learning platform, which includes artificial intelligence-driven interactive materials and adaptive testing based on big data, as well as digital courseware and textbooks for schools. It will use the money to hire a large number of technical engineers to expedite an upgrade of its products and services. The investment was led by Legend Capital, with involvement from Qualcomm.

ALO7 (Formerly known as Saybot), a China-based English language learning product and services provider, receives $37.5 million in Series D financing round.

The round was led by Legend Capital with participation from GuoHe Capital and UG Investment and C-round investors Qualcomm, New Oriental, and Vickers Venture Partners.

This financing will be used to hire a large number of highly-skilled technical engineers to accelerate a dual upgrade of the company’s products and services.

Led by CEO Pengkai Pan, EVP Andrew Shewbart, ALO7 provides English language learning product and services which leverages technology that manages online and offline interactions between students, teachers, parents, and school administrators. Using smartphones, tablets, and PCs, users can access AI-driven interactive materials, in-depth reports on student progress, an online learning platform, and adaptive testing based on big data.

The company provides a primary-school digital courseware and textbook series, Genius English, and recently introduced Wise English, a program for middle schools, at the conference.

ALO7 was founded in the United States in 2004 by MIT PhD Pengkai Pan and his mentor, digital-media guru Nicholas Negroponte. In 2010, ALO7 joined the K12 English education market, focused on providing high-quality teaching products and services to schools.

FinSMEs

29/11/2017