NBA star Kobe Bryant and partner Jeff Stibel have announced their new VC firm, Bryant Stibel, is investing part of its US$100 million fund in VIPKID. The leading online educational platform enables children in China to learn English from teachers located in North America. It’s the firm’s first investment in education and its second in a Chinese company.
Silicon Valley-based Learn Capital facilitated the connection between Bryant Stibel and VIPKID. The deal follows a recent Series C investment round of US$100 million in VIPKID led by Sequoia Capital and Mr. Alibaba Jack Ma’s Yunfeng Capital.
VIPKID is earmarking the cash for curriculum and product development. The Beijing-based company uses the on-demand economy model to connect children ages five to 12 in China with teachers in North America in order to give them a virtual North American elementary school experience. VIPKID is currently hiring more than 1,000 instructors across North America each month.
Recently retired, Bryant was presented with the Kids’ Choice Sports Legend Award last month in recognition of his career-long record-breaking achievements.