Sololearn, an e-learning platform, has raised US$ 24 million in a Series B funding round on July 21, 2021. Drive Capital led the venture round with the participation of Learn Capital and Prosus Ventures (who also partook Series A round of US$ 5.6 million in 2016) as the valuation soars to US$ 30.9 million to date.
Sololearn is a California-based edtech startup established in 2014 by Davit Kocharyan and Yeva Hyusyan. SoloLearn enables students to learn and practice a skill of their choice, free of cost. It provides concise videos, interactive tests and preparatory sessions. In practice sessions, programming students do real-life coding, future photographers adjust camera settings in the app, and likewise, it has something for all kinds of skills and has now worked with more than 50 companies outside of Silicon Valley, including Root Insurance, Duolingo, Greenlight, Olive, and Branch.
The startup came out of a previous project Hyusyan worked on while working for Microsoft. A portion of the project was to help upskill entrepreneurs through a coding boot camp that they put together. Eventually, the Bootcamp took on a life of its own along the tech firms in the country and the capital in particular. Whilst the accelerator started creating tools that could be used outside of the classroom.
Amidst all this, Hyusyan said she actualised it as an opportunity. And thus, Sololearn was born.
What the CEO has to say
Yeva Hyusyan, CEO and Co-founder of Sololearn, said, “More than 1 billion people will need reskilling in the next twenty years, and people who don’t reskill will see at best fall back and at most critically be out of a job itself. Sololearn enables anyone who wants to advance professionally or individually by putting a coding class in the palm of their hand. We give complete instructional content, involving practice assignments, and encouraging community help from both students and teachers.”
What the Investors have to say
“Sololearn renders bite-sized habit-forming guidance at scale, a friendly and supportive community, and amazing user-generated content. With Sololearn affecting that same proven approach to a subject matter with such a heavy impact on millions of peoples’ financial eventualities, it’s captivating and gratifying to be their Series B lead”, said Masha Khusid, partner at Drive Capital, in a statement.
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