Easy Group secures nearly US $ 10 million in Series A funding from Matrix Partners China
Sina Education News
Overseas tutoring company Easy Group recently announced that it has received nearly $ 10 million in Series A financing from Matrix Partners China. Yuwei Zhang, the founder of Easy Group, said that this round of financing will be mainly used to expand the team, technology investment and product optimization.
Easy Group was established in September 2014. Easy Edu is a core brand of the company. The company provides academic tutoring courses around overseas college student, and also provides supporting services such as admission planning, career development consulting and graduate application, forming a full-cycle professional services. The service system is dedicated to helping overseas students achieve academic and career success.
"Thanks for Matrix Partners' recognition of the company and the team. During this financing process, interaction with investors has given us deep thoughts on future strategies and strategic paths." Said Yuwei Zhang , founder of Easy Group, “The overseas university tutoring has great potential. As a start-up team of Chinese international students, we are proud to be the first to create an educational tutoring brand that effectively helps overseas college students. We hope to maintain a forward-looking and innovative spirit. On the basis of traditional education, we pursue empowering education through technology. "
When talking about the reasons for investing in Easy Group, Lixiong Niu, a partner of Matrix Partners China, said: "Matrix Partners is very proud to be an investor in Easy Group, helping the team to provide high-quality extra-curricular tutoring services for overseas college students. There are two core reasons for investing : First, the company's management team with Jacky and Steven as their cores. They are the entrepreneurs we like and acknowledge. Second, the extra-curricular tutoring service for overseas college students is a rising market. With the emergence of premium supplies like Easy, the potential of this market will gradually unleash in the coming years. "
Easy Group has regional headquarters in Toronto, Canada and Shanghai, China, and has opened nearly 300 North American college tutoring courses in economics, finance, accounting, mathematics, statistics, computer science, life sciences, and engineering. Nearly a thousand mentor teams come from world-renowned universities such as Harvard, Yale, Cornell, Cambridge, Stanford, MIT, the University of Toronto, and the University of Waterloo, etc. In 2019, the students in offline courses exceeded 100,000, and the online course participants exceeded 170,000. With a unique full-cycle business model, broad networks in Canada, China, and the United States, comprehensive teaching and research capabilities, and global elite mentor resources, Easy Group has become the fastest-growing leader of extracurricular tutoring for overseas students.
According to data from the National Center for Education Statistics (NCES), North American universities have more than 20 million students. More than 15 million students are enrolled in other English-speaking country universities. International higher education pursues a easy-entry, strict-exit policy. Compared with the K-12 curriculum, higher education is more difficult, has more knowledge to learn, and the semester is faster. According to statistics, about 40% -50% of university students cannot graduate in four years. Meanwhile, GPA is regarded as an crucial element for job searching and graduate school application in North America. Improving GPA is the fundamental need of overseas students. At North American universities, seeking academic counseling is no longer an individual's plight but a pain point for a group. Easy Group is committed to providing academic tutoring solutions for overseas university students. According to a Bloomberg research report, the total value of the North American college student education service market exceeds US $ 7 billion. The market for college tutoring for college students has gradually grown in recent years, with great potential, and there are still opportunities to run out of unicorns on this market.