CLASSUM, a South Korean education technology company, recently announced that it has raised $11 million in its pre-Series B funding.
The round was led by venture capital firm Dunamu & Partners with participation from Silicon Valley based Storm Ventures and Big Basin Capital, along with South Korean based VC Pearl Abyss Capital.
The startup will use the fresh capital to attract more top tier talent and scale its presence across more key geographies.
Founded by Lynn Lee and Youjin Choi in 2018, CLASSUM provides an interactive learning platform for corporations and universities. Provided as a SaaS model, the startup enables active communication and engagement from participants. It enables learners and educators to maximize their communication and engagement by supporting social media-based communicating features and selective anonymity among participants to minimize barriers in Q&As and sharing knowledge. In addition, the service also uses Artificial Intelligence (AI) to curate FAQs, as well as provide data driven insight into the dynamics of each learning environment.
Commenting on the investment, Co-founder & CEO of CLASSUM, Youjin Choi, said:
“We are excited to have completed our latest round of funding. Disruption is imminent in the education industry, and we believe key stakeholders are ready and willing to adopt new technology to enhance the overall learning experience. We plan to use this new financing to aggressively expand our foothold in the enterprise learning market and scale our presence across more key geographies.”
CLASSUM is currently used by more than 6,000 organizations across 32 countries. In South Korea, it is used by the top tier educational institutions such as Seoul National University, Korea Advanced Institute of Science and Technology (KAIST) and Yonsei University. The company is also widely adopted by multinational corporations such as Samsung Electronics, LG Academy, Prudential, Shiseido, and World Vision.
Adding his support following the latest funding, Dunamu & Partners CEO and Managing Partner Ryan Lee, said:
“We were impressed by CLASSUM’s customer centric product which has received strong endorsement by both the education and corporate sector alike. The educational software scene is ripe for transformation, and the unparalleled pace at which CLASSUM is closing new sizable contracts is a testament to the market opportunity that the company can capture going forward.”
The firm has also partnered with leading platforms including Zoom, Gather, Kahoot! and Padlet to incorporate interactive and collaborative learning experiences both on and offline.
Last year in May, CLASSUM had raised $6 million as a part of its Series A round led by Pearl Abyss Capital, Storm Venture along with existing investors Big Basin Capital and Smilegate Investment.