Vietnam’s online education and booking platform Edu2Review has raised an undisclosed sum of funding from Singapore’s Nest Tech venture capital fund.
Austin Carter, co-founder and chief financial officer of Edu2Review confirmed the transaction with DEALSTREETASIA, adding that this investment has raised its valuation to seven-digit USD.
Founded in mid-2015 by Ho Hoan (Vietnam) and Austin Carter (Canada), Edu2Review aims to connect millions of learners with training units.
The startup aims to provide students with a reliable source of assessment information and incentives when booking online courses.
The three-year-old online education platform has more than 3,500 units of training in the database and 30,000 evaluations from students to date. Last year, the platform served nearly 4.2 million users and handled more than 25,000 course bookings throughout the system.
Edu2Review aims to serve 7.5 million users, attract 120,000 course bookings, process data of 20,000 training units in Vietnam this year and then expand the business across Southeast Asia.
To achieve this goal, the company plans to raise additional $3.5 million from investors. The fundraising will be used to recruit 50 more employees and help promote marketing activities across the country, the startup said in an announcement.
Nest Tech venture capital fund was founded by Soe Moe Kyaw Oo, an English businessman working in Singapore. It focuses on tech start-ups, looking for great ideas, a strong team and an executable plan. The fund can invest $50K-$100K per venture, and have a team of programmers to support entrepreneurs.