Prep, a Vietnam-based educational technology company specializing in language learning and test prep has recently announced a significant milestone. It has raised $7 million in Series A funding co-led by Cercano Management Asia and Northstar Ventures, with other investors, such as Touchstone Partners, East Ventures, and Saison Capital, also joining the latest financing round. This substantial funding will be instrumental in expanding Prep’s team, enhancing its learning tools, and exploring opportunities to expand its product offerings and geographical footprint. The company is committed to delivering more personalized learning experiences to its growing user base while maintaining profitability.
Founded in 2020 by Tu Pham and his close friend Nam Tran, Prep aspires to become an established company with the most cutting-edge test preparation platform. Its unique features, such as personalized study plans, interactive learning content, and AI-powered test and role-playing rooms, stand out. These innovative tools are designed to assist all students in reaching their highest goals in the shortest amount of time and at the most affordable price, through dedication, creativity in technology, and innovation in educational approaches. The platform gains popularity and becomes a widely used, efficient learning and practicing tool both domestically and abroad.
Tu Pham, CEO of Prep, shared the company’s vision and mission:
Prep aims to provide every learner with a dedicated personal teacher and mentor to assist them in achieving their learning objectives. This new investment is a significant step towards realizing this vision. Despite being only four years old, Prep has managed to attract hundreds of thousands of users, with its proprietary AI technologies like the AI-powered Virtual Speaking and Virtual Writing Rooms enabling rapid scalability and cost-effective education delivery.
Pham stated:
Due to this comparatively low tuition, Prep now caters to students in big metropolitans and underprivileged ones in Tier 2 and 3 towns and cities.
MJ Yu, Managing Director of Cercano Management Asia, commented:
Quality education made more accessible through technology has been a segment of our emphasis. Prep’s application of technology to drive positive outcomes for language learning and standardized test preparation has been one of the best we have seen from the region. We are very excited to continue supporting Prep as it becomes a leader in this space, expanding its offerings for other languages and other countries in the region.
Prep’s existing seed round investors have chosen to participate in this new funding round, showing continued support for the company’s growth and expansion efforts.
