Vietnamese acceleration-cum–venture capital firm VIISA has made an undisclosed investment in SHub, a startup providing classroom management solutions for e-learning.
SHub will utilise the proceeds to enhance the quantity and quality of its online classes. It will also look to rope in top teachers.
Founded in 2019 by CEO An Dang Nguyen, SHub aims to make online learning a basic life necessity and make online teaching a high-income career for Vietnamese teachers.
Besides providing online classes that are close to the traditional training environment, Shub has also integrated features such as assigning, correcting, grading assignments and creating online examinations via the platform. This helps learners and teachers optimise their time on a learning platform, reducing unnecessary and time-consuming operations.
The startup targets students in secondary and high schools and claims to have onboarded over three million users. It has also formed partnerships with over 200 schools and 100.000 teachers.
“With this investment, I hope that SHub can help the online education market in Vietnam achieve two goals in the short term,” said VIISA Co-Founder and CFO Hieu Vo. “The first goal is to speed up digital transformation in small and medium-sized teaching and exam preparation centres. The second one is to reduce the total time required to interact among the sub-objects involved in the classroom such as schools, centres and parents.”
VIISA was formed in 2016 in a partnership between Dragon Capital, Hanwha and Vietnamese ICT giant FPT Corporation.
As per a Bain & Company analysis, Vietnamese parents view education as the primary means towards a successful career. The average Vietnamese family spends approximately ~20 per cent of disposable income on education, compared to 6-15 per cent in other Southeast Asian peers.
As the pandemic forces students to stay at home and schools to adopt online learning massively, many Vietnamese edutech startups have raised capital in 2021. They include educational services provider Equest (US$100 million investment from KKR), AI-powered language app Elsa (US$15 million Series B led by Vietnam Investments Group), Educa Corporation (US$2 million Series A from Alibaba-backed eWTP), Marathon Education (US$1.5 million in seed funding), CoderSchool (US$2.6 million pre-Series A led by Monk’s Hill Ventures), and Clevai (US$2.1 million in a pre-Series A led by Altara Ventures).
By the end of 2023, the Vietnamese e-learning market is expected to be worth over US$3 billion, according to a Ken Research report, with the increase in the number of foreign players entering the market.
Image Credit: SHub
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