Globish Academia, a Thailand-based online foreign language learning platform, has raised US$2.36 million in a Series A+ funding round.
The company secured the funds from the Thai government’s Digital Economy Promotion Agency (DEPA) and its network of venture capital partners, including Premier, N-VEST Venture, ECG Research, 500 TukTuks, StormBreaker Venture, RareJob, and BonAngels.
Founded by Takarn Ananthothai and Chuencheewan Wongsaeree in 2014, Globish provides online one-on-one foreign language classes with native speakers, imparting children, students, and individuals the skills needed to work. It currently offers English and Chinese language classes but the company plans to extend its platform beyond languages to other skills. Globish offers unlimited e-learning programs such as VDO podcasts, exercises, online quizzes, and fun English workshops for free.
The more than 90-million baht ($2.36 million) investment will accelerate Globish for international markets and expansion to ASEAN. The company has recently launched its operations in Ho Chi Minh City, Vietnam.
Assistant Professor Dr. Nuttapon Nimmanphatcharin, President and CEO of the Digital Economy Promotion Agency (DEPA), said,
“Globish is a Thai digital startup supported by DEPA since the Pre-Series A phase. We have overseen and noticed its business efficiencies, as well as its growth potential, which is in line with educational technology trends. DEPA and its partner network’s investment in Globish is the largest direct first-time investment in digital startups by a government agency. This will be an important driver for Globish to continuously expand its business. In addition, DEPA and partners will be the ‘bridge’ connecting Globish to international markets, both regional and global. DEPA will add credibility to expand the cooperative network, and prepare Globish to become Thailand’s next unicorn.”
According to Professor Dr. Nuttapon, there are numerous Thai digital startups with the potential for international expansion, but they do not receive the required support from the government.
Takarn Ananthothai, Co-founder & Chief Executive Officer of Globish, said that after the fund-raising, the company will continue to upgrade its organization to become the EdTech leader of ASEAN, and then turn its sights to the global market by extending its platform beyond languages to other skills to be one of the tomorrow educational leaders by 2023.
Globish has proactive plans to penetrate both domestic and international markets with the target of 500,000 classes by the end of this year, as well as adding instructors and coaches to support the expanding market. Currently, the company has over 400 coaches and organizes more than 300,000 classes every year.
With the fresh funding, Globish plans to increase to 1000 coaches and expand into more markets, such as Pakistan and Bangladesh, to become a regional EdTech leader. Globish also expects to generate an income of 1,200 million baht by 2025.