Marathon, a Vietnamese education technology startup, announced that it has raised an undisclosed amount in a seed funding round led by New York-based Vulcan Capital, the private equity investment company founded by Microsoft co-founder Paul G Allen.
The round was also joined by Forge Ventures, DSG Consumer Partners and Goodwater Capital.
With the latest round of funding, the startup plans to work for product development and expansion purposes. It also aims to expand its online-to-offline experience centers beyond Hanoi and Ho Chi Minh City.
Founded in 2021 by former investment executive at TPG Capital, Pham Duc, along with former Vietnam country head for Klook, Tran Viet Tung, Marathon offers live online tutoring sessions for K-12 students. It currently has hundreds of individual tutors, including native teachers for English language classes. The curriculum is taught directly by the top teachers in the top 1% in Vietnam. Not only the main subjects according to the program of the Ministry of Education, the platform also focuses on extracurricular programs and subjects such as programming, fine arts, to provide all Vietnamese students with a quality education, comprehensive and best.
Marathon’s vision is to become the leading technology education platform in Vietnam, providing comprehensive educational solutions outside of school for all students across the country with the best quality.
According to the company, it saw a 30 percent growth in monthly users during its first year of operations.
Last year in August, Marathon had raised $1.5 million in a pre-seed round led by Singapore-based early-stage venture capital firm Forage Ventures.