All edutech Funding Startup News in Korea (Korean Startup News)

CLASS101 Raises 16 Billion Won to Boost Global Online Learning

2023-11-09 2 min read

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CLASS101 Raises 16 Billion Won to Boost Global Online Learning

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The South Korean global online class subscription platform, CLASS101, has successfully secured an investment of 16 billion won in a Series B bridge round. The round saw participation from leading global investors including Goodwater Capital, Maven Growth Partners, KDB, and Softbank Ventures.

CLASS101 has been on the radar of numerous investors since its previous Series B funding, and has now successfully completed this bridge round. The platform is set to deploy the fresh capital towards further enhancing its subscription services and to advance the development of new services that broaden the experiences of both learners (‘Classmates’) and creators, thereby propelling the company’s growth trajectory.

Last December marked a significant milestone for CLASS101 as it launched the first-ever global integrated subscription platform across Korea, the USA, and Japan. The platform boasts an impressive catalogue of over 5,300 classes across a wide array of subjects including hobbies, career development, finance, and children’s education. Additionally, within just six months of its global subscription service going live, CLASS101 celebrated reaching 150,000 paid subscribers and, by September—coinciding with the first anniversary of its subscription model—achieved a break-even point, thus cementing its lead in the online class market.

CLASS101 continues to invest in the development of innovative content formats that enable creators to effectively impart their expertise, while also improving its operational systems and service offerings. The company is enhancing the CLASS101 experience through features like ‘Playlists’ and ‘Challenges’ which aim to increase user satisfaction and engagement for both learners and creators.

Jin-Suk Oh, a partner at Goodwater Capital who led the investment, was particularly impressed with CLASS101’s resilience in the face of various challenges. He commended the company for its commitment to increasing user satisfaction by providing a rich library of content aimed at personal development and upskilling. He anticipates CLASS101 to maintain its dominant market presence and to continue its product evolution.

The CEO of CLASS101, Dae-Sun Gong, shared his strategic outlook, stating that the company will leverage the positive momentum from its recent profitable month and Series B bridge investment to drive systematic and substantial growth. Gong envisions CLASS101 transcending the traditional role of an online class provider, by fostering unique interactions and a sense of community between creators and learners, thus reinforcing the platform’s competitive edge in the market.

[Korean Edutech Startup News]

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