Online Education Firm Secures USD 103M Funding

Xinhua-PRNews, 10/21/08

Chinese education services firm Ambow Education Group today announced that it has closed a new round of funding worth USD 103 mln led by new investor Actis and existing investors Avenue Capital and Macquarie Group. In October 2007, Ambow raised USD 54 mln from Avenue Capital, CID, Cisco and Macquarie Group. The company, which provides both online and offline services, plans to use the new round of funding for acquisitions and business expansion, promotion of the development of personalized life-long education platforms.

Established in 2000, Ambow focuses on personalized education and training services in China's K-12 and vocational training sector.

Keywords: Ambow Actis Avenue Capital second-round funding Internet Macquarie online education investment

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