Corporate VCs support internationally focused edtech
Softline Venture Partners, a corporate VC fund of the Softline group of Russian companies, has invested $500,000 in Educate Online, a domestic online platform that helps automate the selection of and admission to international private schools, Firrma.ru reported.
The investee expects to receive the full amount in several tranches, each to be approved only upon the achieving of certain KPIs by the project team. How much Softline Venture Partners will now own in the project has yet to be disclosed.
Educate Online is said to have plans to use the investment to further develop its technological platform, create a new website and mobile app, and expand its sales team. Over the next two years Educate Online is hoping to increase to 500 the number of students who will have chosen and entered an educational institution using the platform; to increase to 400 the number of schools covered (including those in the U.S., Canada and continental Europe); and to carve out a market in Asia (including Hong Kong and China at large). The platform is currently focused on schools in England.
The number of Russian children who entered English private schools between 2005 and 2017 increased by 77% from earlier results, global analysts at Knight Frank announced. The United States is another growing magnet for Russians for high school level education.