COLDSKY.CN – Pal Fish (伴鱼), Beijing-based English language training start-up for children, scooped up $120 million in Series C round of financing, led by Zhang Tao (张涛), founder of restaurant review website Dianping.com, and FutureX Capital(天际资本).
Pal Fish said it builds the competition on diversified products, one-to-one English training by fixed native speakers from Europe and the United States, AI and social-based learning, and original Pearson textbooks.
Three years after its launch, Pal Fish said it has served over 40 million users including 1.6 million paid users. The latest round of financing put the start-up’s estimated valuation at $600 million, according to itjuzi.com
In the press release, Zhang Tao and Zhang Qian from FutureX Capital both recognized the strong team of Pal Fish’s CEO Huang He, who once served ByteDance, influenced their investment decision.