The edtech startup raised $1.5 million in a Pre-Seed funding round
Marathon is a Vietnamese online tutoring platform. This platform just raised $1.5 million in investment capital for a pre-seed round. Investment funds participating in pouring capital for this edtech startup include Forge Ventures, Venturra Discovery, and iSeed. The funding round also includes angel investors in the fields of education and technology. The new funding helps Marathon to pilot teaching more Maths, Physics and Chemistry for grades 6-12. The pilot is carried out within the framework of the National Program of the Ministry of Education and Training. This edtech startup will also expand the courses to all subjects in the future.
The two co-founders of Marathon are Pham Duc and Tran Viet Tung. Duc is a former investment manager at TPG Capital. Tung is the co-founder of Triip.Me and Christina’s. About 50 – 70% of students attend classes after school. But this market is very fragile. Realising this, the two co-founders founded Marathon in early 2021. Marathon was first launched in Ho Chi Minh City.
More information about Marathon
Most Vietnamese students still rely on extra learning to supplement their knowledge. It also helps improve high scores. Many tutoring centers are concentrated only in big cities. Former public school teachers will often run such a center. They need to handle administrative work, marketing, admissions, and parent communication. These cut down on the time spent on course design, especially when social distancing orders are enforced by the COVID-19 pandemic, these classes must move quickly to online teaching platforms.
When teachers join Marathon, this startup will take care of administrative tasks. This online model helps teachers reach more students in other cities. Teachers who move from tutoring centers to Marathon can increase their income 2-3 times. Marathon noticed a clear change in the parents’ behavior. Their children are more receptive to online learning. Accordingly, the participation rate has now reached 99%. This also shows the potential of online learning in the future. Marathon also has an expansion strategy. In particular, this edtech startup focuses on cultural differences between the North and the South of Vietnam.
Sources of information include DealstreetAsia, TechInAsia, và TechCrunch.