East Ventures, Cercano Management co-led $1 M received by edtech firm Prep
Prep, an online learning platform with a focus on standardized language test preparation, announced on Tuesday that it had raised $1 million in a round co-led by East Ventures and Cercano Management. Prep is based in Vietnam.
Prep said in a statement that this round of funding, which brings the total amount raised by Prep to $2 million, including the $1 million investment made by Touchstone Partners earlier in 2022, will further strengthen its balance sheet.
Prep will be able to speed up business operations and product development thanks to the new investment, which will increase market adoption.
IELTS, TOEIC, and the High School Graduation Exam are just a few examples of the standardized language tests that Prep offers online courses and mock exam solutions for.
The business is dedicated to offering a remarkable learning experience that is personalized, result-oriented, and engaging.
The platform provides asynchronous interactive content that encourages student engagement and participation.
Prep’s platform simulates an immersive and interactive real-test environment using deep learning technology, which improves learning efficiency.
Every student’s educational journey is unique to them and is tailored to suit their preferred learning pace, style, and methods.
“We are thrilled to have the support from all our investors as we provide accessible quality education in Vietnam and in Southeast Asia,
“We believe this investment will support us in bringing high-quality language courses to the learners, providing them with the desired language skills to succeed in today’s fast-changing world,” said Tu Pham, Founder, and Chief Executive Officer of Prep.
In order to make high-quality test preparation available to everyone, Tu Pham (Founder and Chief Executive Officer) and Tran Hoai Nam (Co-Founder and Chief Technology Officer) founded Prep in 2020.
To create a learning platform that addressed significant issues in the field of education in Vietnam and the region, the founders combined their experience in language instruction and edtech product development.
Ongoing online platforms lack interaction and personalization, and offline education encounters significant geographic challenges.
