Vietnam’s e-learning startup Kyna.vn raises seed round from CyberAgent Ventures

Vietnam-based e-learning platform Kyna.vn has raised an undisclosed round of seed funding from CyberAgent Ventures, a Japanese investment firm.

Founded in 2013, Kyna.vn — which is the abbreviated version of ky nang (Vietnamese for skills) — is the first startup in Vietnam to receive capital from CyberAgent Ventures’ second Southeast Asia $50 million fund launched in June 2015.

CyberAgent Ventures launched its first $20 million fund for Southeast Asia in September 2011. The venture capital firm had used the first fund to invest in various technology startups including Tiki.vn, Foody.vn, and batdongsan.

Kyna.vn’s primary business model revolves around providing Vietnamese learners with online courses taught by experts for a fee. Learners can attend classes 24/7, chat with their teachers and other students, and better understand each course with exercises. Upon completing each exercise, learners will receive Kpoint’s which they can use to redeem books or vouchers on the website.

The company claims to have garnered 200,000 learners from Vietnam alone, and 100 experts who have published 200 courses in fields like communication skills, sales, business, digital marketing and entrepreneurship.

“In order to provide [the] most convenient learning method for learners while [maintaining] learning effectiveness, Kyna.vn has put quality as our mission and also our unique selling point. We commit to refund if learners do not find our course [valuable] to them.”

Kyna.vn will use the new funds to increase the number of online programmes available on its platform to 1,000 courses by end-2016. It will also hire experts from “foreign, reputable institutions”, noted the company. Learners will also receive certificates to help them enhance their resumes when applying for a job.

“As Vietnam will integrate into regional and global economy in upcoming years, skills training has become more critical than ever and this is solution for not only individuals but also enterprises to survive in [the] future,” said Nguyen Manh Dzung, the chief representative and investment director of CyberAgent Ventures in Vietnam and Thailand.

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