Ed-tech startup ‘Snapask’ raises new funds, now valued over US$300 million
published : 27 Mar 2020 at 10:26
Snapask 2020 fund raising aims to strengthen its education service ecosystem through online and offline service integration and new market expansion along with AI upgrading.
Snapask, the hottest new Ed-tech start-up that helps students on their study and exams, has raised US$35 million in the 2020 round led by Asia Partners from Singapore and Intervest from South Korea. By topping up another US$35 millions to existing funds, the company will be funded over US$50 millions up to date.
Earlier this month, Chief Executive Officer of Snapask Thailand, Mr. Chaval Jiaravanon announced that “Our goal is to become Asia’s first education ‘Rhino’. We are now focusing on analytics and business intelligence product development in order to promote self-directed learning technology and video learning content. By leveraging AI and big data, Snapask will be able to deliver personalized learning resources, which will help Snapask users to effectively improve their learning and skill sets,” The company also said it will use the new funds to integrate online and offline services and hypergrowth tutoring markets in Southeast Asia, expand to the Vietnam market, penetrate other provinces in Thailand, and upgrade their application and platform.
Founded in 2015, Snapask firstly started its business in Hong Kong as an application-based service. Currently, the company has served over 3 million students in Hong Kong, Taiwan, Singapore, Malaysia, Indonesia, Thailand, Japan, and South Korea. Snapask has been making a revolutionary impact on Thai education as it expanded to Thailand in 2018 with a strong market presence. Over 1 million students, mostly are senior high school students in Bangkok, Chiang Mai, Khon Kaen, Chon Buri, and Songkhla, have registered and experienced the services, ‘SnapTutor Q&A’ service, which offers 1-on-1 learning sessions as it allocates users and their questions to relevant tutors.
“The key success factor of Snapask is its ‘Tutors’, which all go through Snapask special recruitment process to ensure that Snapask users will have a pleasant experience using its service. A wide range of tutors is available for Snapask users from scholar ivy league students to retired professors who have more than 30 years of teaching experience.” Mr. Chaval said.
“We are trying our best to understand our users to provide them the right fit products. We have soft launched our new offline tutoring service to complete our business ecosystems and become a 1-stop-service learning mobile application, integrating online and offline learning. We also collaborate with top schools in Thailand to ensure that our users will have all the knowledge and skills crucial for university entrance. This year we aim to expand our user base across Thailand and provide more practical contents to our users.” added by Mr. Chaval.