Virtual Internships, an edtech company from the United Kingdom, has successfully raised $ 14.3 million in Series A led by a global coalition of investors including Hambro Perks, Sequoia India & Southeast Asia’s Surge, Arsenal Growth, Kaplan, Ascend Vietnam Ventures, and STIC Investment.
The capital will help Virtual Internships to further scale its education platform as demand for remote work and learning continues to grow. The global nature of the fundraiser, made up of investors across three continents, reflects the business’ ambitions to continue to expand the platform internationally and make internships at the most exciting companies accessible to all, according to the company’s statement.
|Founded in 2018 by Daniel Nivern and Ed Holroyd Pearce, Virtual Internships operates in 25 countries around the world |
Daniel Nivern, CEO of Virtual Internships, said that the company has seen a clear societal shift towards remote work, a trend that it believes will continue to accelerate at pace.
“We should embrace the opportunities that this presents, and platforms like Virtual Internships help students and graduates from around the world to acquire new skills that will accelerate their career growth and prepare them for the 21st-century workplace. Our mission is to bridge the gap between education and the workforce by making global remote work experience accessible to all in a digital and borderless world,” Nivern said.
Virtual Internships offers programmes across all industries in more than 100 countries worldwide, creating opportunities for the more than 250 million students in higher education to undertake a virtual internship. The unique platform ensures intelligent, rapid matches between students and companies globally, guaranteeing an internship match for every student within one month, regardless of their background, major, location, or desired career field.
According to the latest report released by EdTech Agency in July, Vietnam's edtech market is estimated to exceed $3 billion by 2023 and is in the top 10 markets with the largest growth rate in the world. Total investment capital in startups in this field in Vietnam has reached $20.2 million.
Meanwhile, market research organisation Ken Research released that the global edtech market is expected to reach a value of $319.7 billion by 2029 with a compound annual growth rate of 17.8 per cent.
| ||Edtech startup MindX lands $3 million in new funding |
MindX, an edtech startup based in Vietnam, has raised a $3 million Series A round led by Southeast Asian venture capital firm Wavemaker Partners, Vietnamese investment bank Thien Viet Securities, and a US-based investor. Gender lens investor Beacon Fund also participated with debt funding.
| ||Vietnamese edtech market attractive to investors |
Educational technology (edtech) startups in Vietnam have drawn many domestic and foreign venture capital funds thanks to their high development potential.
| ||Edtech platform Azota secures $2.4 million led by GGV Capital |
EdTech platform Azota, which allows teachers to create and grade online tests efficiently, has just raised $2.4 million in a Pre-Series A round led by GGV Capital. Other backers include Nextrans and existing investor Do Ventures.
| ||Education investment dips increasingly into edtech |
If previously, Singaporean education investors saw opportunities in opening new training facilities in Vietnam or joint training programmes with existing educational institutions, the market in recent times has witnessed the entry of more Singaporean funds into the edtech sector.
| ||Edtech startup VUIHOC bags $2 million in bridge funding ahead of Series A |
VUIHOC has raised $2 million in a bridge round led by Ant Group-backed venture capital firm BAce Capital that was joined by other investors including Vulpes Venture, DT&Investment & Colopl Next, and Nextrans.
By Bich Ngoc