China's VIPKid Is Said to Raise Funds at $1.5 Billion Valuation

VIPKid, an online education company that matches Chinese students with North American teachers, was valued at more than $1.5 billion in a round of funding from investors including Sequoia Capital China and Tencent Holdings Ltd., according to people familiar with the matter.

The Beijing-based company said Wednesday it had raised $200 million to expand into new markets and broaden its academic offerings, without disclosing any valuation. Its investors also include Sinovation Ventures, Zhen Fund and Jack Ma’s Yunfeng Capital.