RareJob, an online ESL (English as a second language) school, has entered into a capital partnership with Dream Viet Education (DVE), the operator of “Kynaforkids,” a Vietnamese online English teaching service, for an unknown sum.
DVE is RareJob’s first foray into the Vietnamese edutech sector, according to a news release. The cooperation intends to make use of both companies’ current assets.
RareJob plans to use its network of 6,000 available Filipino teachers on “RareJob Eikaiwa,” an online English conversation lesson service, to give high-quality lessons to DVE’s students as part of the investment.
This agreement, according to the Japanese company, is in line with its plans to develop internationally. Through synergies, it has been bolstering business targeting enterprises and educational institutions, as well as extending to global leader development and career-related industries.
Dream Viet Education, which was founded in 2013, offers online English tutoring platforms such as Kyna.vn and Kynaforkids.
DVE states that its online English tutoring service under the Kyna English 1-1 brand had strong growth both locally and abroad during the COVID19 epidemic. The corporation also stated that the number of users has been continually increasing.
RareJob and DVE also plan to use RareJob’s PROGOS, an AI business English-speaking test, and RareJob Eikaiwa materials to expand cooperation for DVE’s existing services for adults and kids.
RareJob previously entered new markets by making strategic investments in local edutech businesses such as Globish Academia Company in Thailand and Multibhashi Solutions in India.
The amount of investment in the Vietnamese edutech sector market reached US $20.2 million, according to the “Vietnam IT Landscape 2020” report. In 2019, foreign investment capital for edutech in Vietnam totalled US $55 million.
