South African EdTech startup The Student Hub has raised ZAR45 million ($2.9 million) in a new funding round to expand its vocational education platform.
The company secured the funds from Naspers Foundry, a fund launched by Naspers, one of the largest technology investors in the world, in 2018 to help South African tech entrepreneurs grow their startups.
The Student Hub provides online courses from South Africa’s leading colleges that give students the in-demand skills they need to get the job they want. It increases access to vocational education to large number of students, whilst reducing the costs of delivery of education and training, by partnering with government accredited technical, vocational and training colleges to help them deliver their courses online.
The company gives students the opportunity to study with the college of their choice. Its learner management system allows colleges to monitor students’ performance, increasing the value to the college while limiting the cost incurred from having students on campus.
Speaking about the company and expressing his excitement for partnering with Naspers who have deep international experience in the EdTech sector, Hertzy Kabeya, Founder and CEO, The Student Hub, said,
“We are a technology company that believes that improving access to education to millions of students across South Africa is at the core of what we do. Linking graduates with the right economic opportunities that relate to their skills are what the economy needs right now.”
Commenting on the funding, Phuthi Mahanyele-Dabengwa, Naspers South Africa Chief Executive Officer, said she believed tech companies have the potential to be the cornerstone of South Africa’s economic growth.
“We want to play a role in unlocking that potential. Our investment in The Student Hub is an example of how digitalization has the potential to address unequal access to education, create local opportunities, and enable increased participation towards a more inclusive economy,” she said.
The latest investment in The Student Hub brings Naspers’ total investment since launching Foundry to ZAR200 million ($13 million).
Meanwhile, The Student Hub has become the fourth startup to secure backing from Naspers Foundry since its inception in October 2018. The other three companies that the fund has invested earlier are SweepSouth, Aerobotics, and Food Supply Network.