YXT Closes E1 Financing Led by Tencent2021-01-26
January 26, 2021 -- YXT (Yunxuetang), a leading corporate training SaaS and services provider in China, today announced the closing of E1 round of financing led by Tencent.
YXT’s existing investors include Centurium Capital, YF Capital and Himalaya Capital. So far, YXT has raised a total of US$300 million funding since its founding.
Teng Zu, CEO of YXT, said that the E1 financing will be invested in AI technology and software product innovation, buildout of digital and IT capabilities, improvement of content production and delivery, as well as upgrade of client services.
Yunxuetang’s total solutions include training infrastructure establishment, training materials development, training program maintenance, data analysis and vendor management to meet increasing demands for more efficient staff training as Chinese companies grow and evolve.
According to a research by Qianzhan Research Institute, China’s corporate training market will reach RMB768.1 billion in 2020 and is expected to exceed RMB 900 billion in 2025.