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, people familiar with the matter told Bloomberg. 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. VIPKid has seen explosive growth as Chinese parents seek out high-quality education for their children, particularly in English. The four-year-old startup has expanded to more than 20,000 teachers and 200,000 students, and projects revenue to reach 5 billion yuan ($750 million) this year. As part of the fundraising, VIPKid said it will begin offering Mandarin classes and target students in the US and beyond. Founder Cindy Mi said she anticipates reaching 1 million students by 2019 through expansion into new subjects and geographies.