03. September.2021  – Class101, a Seoul-headquartered online education platform, announced that it raised USD 25.8 Million (30 Billion won) in a Series B funding round. The round was led by Goodwater Capital.

The participants of this round were Mirae Asset Capital, Kim Ventures, Strong Ventures and KT Ventures. The company raised this capital to increase the growth in the markets of South Korea, Japan and the U.S.

Class101 closed its Series A round in 2019 with USD 10.3 Million (12 Billion won) by investors like KT investment, SoftBank Ventures Asia, Mirae Asset Venture Investment, SpringCamp, and Strong Ventures.

About Class101 – 

Co-founder and CEO of CLASS101 Monde Ko told TechCrunch that the company will use the proceeds to focus on hiring more talent, as well as expanding domestic business and overseas markets in the U.S. and Japan.

Ko and four other co-founders established CLASS101 in 2018, which was pivoted from a tutoring service platform that was founded in 2015, Ko said. It has 350 employees now.

“We will keep supporting creators to monetize their talents and we will also allow creators to expand their revenue streams by selling their goods, digital files and more products via our platform,” Ko said.

When asked about what differentiated it from other peers, CLASS101 provides and ships all the necessary tools and material “Class Kit”, Ko said.

The company offers more than 2,000 classes within a raft of categories, withdrawing, crafts, photography, cooking, music and more. It also provides about 230 classes in the U.S. and 220 classes in Japan. There are approximately 100,000 registered creators and 3 million registered users as of August 2021.

CLASS101 launched its platform in the U.S. in 2019 and entered Japan last year. The company opened online classes for kids aged under 14 in 2020.

“CLASS101 is a company that combines the advantages of Patreon and YouTube, offering tailored support for creators while fulfilling users’ learning needs,” co-founder and managing partner at Goodwater Capital Eric Kim said, adding that it is the fastest-growing company “in an economic phenomenon in which individuals follow their passions and do what they really enjoy while also making a living from it.”

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