Budapest-based online self-grading worksheet app Redmenta has recently raised a €140,000 angel investment to scale its domestic sales and expand into international markets.
The equity investment was led by Peter Csillag, President of the Hungarian Business Angel Association (HubBAN), with participation from András Fülöp, the former Hungarian head of consultancy Deloitte; Szabolcs Szakacsits, founder and CTO of Tuxera; Máté Wohlmuth, CEO of Coding Sans; and Iván Gyurácz Németh, partner at Absolvo Consulting.
Founded in 2014 by Zoltán Visy and Bálint Mérő, Redmenta is an online worksheet library and worksheet creator tool that helps teachers save time and energy with assessments and assignments. Redmenta’s app is also suitable for corporate in-house training of employees. The company claims to currently have approximately 250,000 monthly active users on its system.
Speaking about the company and how it plans to utilize the new investment, Zoltán Visy, Co-founder & CEO of Redmenta, said,
“It’s a good base for us that we already have 250,000 monthly active users on our system, and it’s not only popular in public education but also supports the training of employees in many places, from small businesses to the country’s largest employers to government.
Our users are mainly from Hungary, but, so far, we’ve grown organically beyond our neighbors in Germany, France, and many other places from South America to Asia. We would like to accelerate this growth with this investment.”
Redmenta’s worksheet library has more than 23,000 worksheets categorized by subjects, grades, and country of education. Users can use, modify and share a worksheet from the user-generated and user-validated library, or build one from the previously created questions.
Lead investor Peter Csillag said,
“This is my first investment in educational technology, and I’m happy to invest in such a strong team with such a strong market presence, a product validated by many users. We are confident that the capital, support, and mentoring provided by HunBAN members will be used effectively, achieving significant market success both at home and abroad.”
According to a report by Budapest Business Journal, the investment coincides with the arrival of Redmenta’s upgrades which aim to meet the needs of professional institutional and corporate environments, providing a system for new partners.