Vietnamese classroom management solutions startup SHub received funding from VIISA
SHub, a business that provides classroom management tools for e-learning, has received an undisclosed investment from the Vietnamese venture capital firm VIISA.
SHub plans to use the funds to increase the number and quality of its online programmes. It will also try to recruit renowned educators.
SHub was founded in 2019 by CEO An Dang Nguyen with the goal of making online learning a fundamental life requirement and online teaching a lucrative vocation for Vietnamese instructors.
Shub has incorporated functions such as assigning, correcting, grading tasks, and creating online tests via the platform, in addition to delivering online classrooms that are similar to traditional training environments. This allows learners and teachers to make the most of their time on a learning platform by eliminating redundant and time-consuming tasks.
“With this investment, I hope that SHub can help the online education market in Vietnam achieve two goals in the short term,” said VIISA Co-Founder and CFO Hieu Vo. “The first goal is to speed up digital transformation in small and medium-sized teaching and exam preparation centres. The second one is to reduce the total time required to interact among the sub-objects involved in the classroom such as schools, centres and parents.”
The company claims to have over three million users and targets kids in secondary and high schools. It has also created agreements with more than 200 schools and tens of thousands of instructors.
VIISA was founded in 2016 as a joint venture between Dragon Capital and FPT Corporation, a Vietnamese ICT behemoth.
According to a Bain & Company study, Vietnamese parents see education as the most important factor in achieving a successful profession. In comparison to other Southeast Asian counterparts, the average Vietnamese household spends around 20% of discretionary income on education.
Many Vietnamese edutech businesses have raised financing in 2021 as the epidemic compels kids to stay at home and schools to adopt online learning in large numbers. Equest (US $100 million from KKR), Elsa (US $15 million Series B led by Vietnam Investments Group), Educa Corporation (US $2 million Series A from Alibaba-backed eWTP), Marathon Education (US $1.5 million in seed funding), CoderSchool (US $2.6 million pre-Series A led by Monk’s Hill Ventures), and Clevai (US $2.1 million in a pre-Series A led by Altara Ventures) are among them.
According to a Ken Research analysis, the Vietnamese e-learning industry is predicted to be valued at more than US $3 billion by the end of 2023, as more international firms enter the sector.
