China
The startup called "疯狂老师" (Crazy Teacher) is a leading mobile education O2O platform focused on the K12 sector in China. Launched in January 2015, it has quickly grown to become the premier platform for private teacher-home teaching services for primary and secondary schools in China. The startup gained significant traction, attracting investments from major players.
疯狂老师 received a $20 million Series B funding from Tencent in June 2015, valuing the company at $1 billion. In July 2015, it secured a $24 million B+ round investment from Kunling Capital and Share Capital, with a valuation reaching $2 billion. A Series C investment of $18.21 million was obtained in June 2016, with participation from Greenwoods Investment and Yuanxi Capital.
The platform operates on a B2C model connecting parents and teachers in a C2C manner. It aims to eliminate the traditional offline one-on-one education system's inefficiencies, providing competitive salaries to teachers and empowering parents to select the best educators based on transparent evaluations and data. The platform's long-term vision includes hosting a million outstanding teachers and facilitating interactions with 40 million families, fostering a decentralized ecosystem that enables free connections based on transparent evaluations and data.
疯狂老师's disruptive approach has garnered praise within the industry, challenging the cost-effectiveness, low teacher income, and opaque teaching quality of traditional offline one-on-one educational institutions. The startup's emphasis on amplifying the value of renowned educators and building an ecosystem for their continuous growth indicates its dedication to revolutionizing the education industry in China.
