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Delaware-based online education platform, Educate Online has raised $4 Million from Xploration Capital, TMT Investments, Flyer One Ventures, Softline, and Angelsdeck.
“The company will use the capital for scaling in LATAM, Asia and the Middle East, development of its technology platform and building a worldwide community of students,” the statement said.
Founded in 2018, Educate Online allows students to choose 450+ subjects offered by leading schools in the US, UK, and Canada – and then study them remotely, full-time or part-time, without having to move to another country and bear the related costs.
Speaking on the fundraise, Alexander Zheltov, Co-founder & CEO of Educate Online, said, “Educate Online was founded in 2018 and since then has placed more than 4,000+ children between the ages of 4-19 in top schools.”
“After COVID-19 hit, we made a hard pivot to online education as we were seeing a surge of interest towards online education – in 2020 we grew 5.5 times and we expect to continue growing 3-5x year-over-year,” Zheltov added.
In 2019, Educate Online developed The Hub, a platform for engaging students of all ages in online K-12 study, ESOL, career exploration, university preparation, and internship & mentorship programs.
Commenting on the funding in Educate Online, Eugene Timko, Managing Partner at Xploration Capital said, “Schools have historically been very local operations. Few have branched out to other countries, primarily through building foreign campuses and local partnerships.”
“This has significantly limited the potential reach for international school education. Educate Online may become the dominant online layer on top of the existing schools’ infrastructure, vastly expanding the current market for cross-border education,” Timko said.
“Educate Online provides a unique opportunity to receive online education of the same quality as it was offline at the top-rated schools abroad for people from all kinds of backgrounds. Thus, the startup creates unique social value, giving many parents a chance to ensure their kids have the best education possible,” Evgeny Galiakhmetov, Co-founder of AngelsDeck added.
Further talking about the investment, Elena Mazhuha, Investment Director at Flyer One Ventures said, “Educate Online not only gives kids from emerging countries an opportunity to get a high-quality secondary education, but it also paves the way for a better future, in which they can be accepted by tier-1 colleges and get dream jobs in Big Tech or on Wall Street.”
“We are pleased to support the Educate Online team in the new round. They have a wonderful, highly sought-after product that helps children around the world to get a Western education. The new round will help the product grow even more actively,” Artyom Inyutin, Co-founder & Managing Partner at TMT Investments added.