South Korean Online Learning Platform Class101 Raises $11.1 Million.
Seoul, South Korea - Class101, a South Korean all-in-one creator content platform, has secured KRW 15 billion ($11.1 million) in additional funding as it moves towards sustained profitability in the competitive edtech sector.
The latest investment, structured as a bridge round, brings Class101's total funding to approximately KRW 79 billion ($58.7 million) since its founding in 2014.
Silicon Valley-based venture capital firm Goodwater Capital led the round, marking its fourth investment in the company.
Existing investors Mirae Asset Venture Investment, Mirae Asset Capital, Strong Ventures, and SBVA participated, with Strong Ventures joining for the sixth consecutive time.
New investors Gowid, Delight Investment, Prolog Ventures, and Puzzle Investment also contributed to the funding.
Class101, which is celebrating its ninth anniversary this year, has been cash-flow positive since March, following a strategic focus on improving user experience.
The company expects its first annual profit in 2023, projecting an operating profit exceeding KRW 2 billion ($1.5 million).
"Class101 is leading the extensive knowledge content market in South Korea and Japan, with no other major competitors," said Jin-seok Oh, partner at Goodwater Capital.
"Based on its unrivaled traffic and brand power, it has secured higher competitiveness than any other platform in the market."
The fresh capital will recruit high-profile creators and enhance the platform's brand value as an all-in-one creator content platform.
Class101 plans to launch a "Creator Home" feature by the end of the year.
This feature will allow creators to offer classes, communicate with subscribers, and sell merchandise.
The new feature, set to roll out next month, is beta testing with mega-creators such as "Good Rich Organic" and "Professor Kim Nan-do."
It will include a "Community" where creators and subscribers can engage in challenges, Q&As, attendance checks, and "101 Club" for real-time interactive lectures.
Dae-sun Kong, CEO of Class101, stated, "We will focus on incorporating the online space needed by creators in various fields into the Class101 Creator Home service. We will do our best to communicate deeply with more classmates and maximize the learning effect."
The funding round underscores growing investor interest in edtech platforms, demonstrating clear paths to profitability, particularly as the sector matures following the surge in online learning during the Covid-19 pandemic.
(US$ 1= KRW 1,345.80)