English-teaching platform VIPKid counts 70,000 North American teachers—80% of whom are women—company founder and CEO Mi Wenjuan (Cindi Mi) revealed at a conference in Beijing this week.
The China-based edtech platform matches English teachers with Chinese students between four and 12 years old for one-on-one tutoring sessions.
Last June, VIPKid raised USD 500 million to reach a valuation of more than USD 3 billion in a Series D+ round involving Tencent, Sequoia Capital China, Yunfeng Capital, and Coatue.
China’s private education sector reins in USD 238 billion to USD 398 billion in annual revenue, based on differing estimates by L.E.K. Consulting and Deloitte, respectively. Looking to the future, Deloitte projects the market could reach USD 744 billion by 2025.