JAKARTA - The online learning platform from Vietnam, which focuses on preparation for standardized language exams, announced that it has raised $1 million led by East Ventures and Cercano Management.
This new investment will allowPP to accelerate product development and various business activities in increasing market adoption.
The draft is a platform that provides various online course solutions and standardized language test simulation training, such as IELTS, TOEIC, and various high school graduation exams (SMA).
Platform Prep also offers interactive content that encourages the involvement and active participation of students. By leveraging comprehensive learning technology, the Prep platform simulates immersive and interactive real test situations, and can increase learning effectiveness.
"We are very pleased to receive support from investors for our mission to provide quality education in Vietnam and Southeast Asia," said Tu Pham, Founder and Chief Executive Officer of Prep., based on a written statement received on Tuesday, April 4.
"We believe this investment will support us in providing high-quality language courses to students and providing them with the desired language skills to succeed in a rapidly changing world," he added.
In Vietnam itself, standardized high quality test preparation services have always been a demand. The language learning market in Vietnam has tremendous potential, with an estimated market size of 2.1 billion US dollars, of which 1.6 billion US dollars for the English market and the rest for other languages.
"We are impressed by President's innovative approach to online education and their commitment to providing effective and affordable learning solutions. With a huge market potential, combined with Tu and the team's internal experience, we believe thatPP is in the right position to bring quality education in Vietnam and its surroundings," said Koh Wai Kit, Managing Partner East Ventures.
Since its launch,PP has grown rapidly and attracts more than 100,000 users across Vietnam's provinces and cities, as well as various other regional markets.
This year,PP aims to expand its user base to half a million and will present various other standardized language exam preparations, such as Japan (JLPT), Mandarin (HSK), and Korea (TOPIK).
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