Altos Ventures announced that it has invested 1.2 billion KRW in Studypie, an online group study platform. Some angel investors also took part in the investment.
Studypie, a learning intermediary platform for the adult education market provides various contents including machine learning, blockchain, coding as well as writing, marketing, stock and real estate investment. More than thirty studies were registered within one month of service. The company plans to provide hundreds of contents expanding its domain to media, design, business and foreign languages until the end of the year.
On Studypie, a lecturer who is a professional of the field proceeds the study and users that share common interest areas will gather to the slack messenger and study together online. An interesting feature is that if the users study every week at their available time and do their weekly assignments, they can get a refund of up to 50% of the service fee.
“Compared to the average 4% achievement rate of domestic and foreign online study platforms, about 55% of users complete their studies on Studypie,” said Hee-Eun Park, Principal of Altos Ventures. “Studypie’s biggest strength lies in providing customized services with a great degree of freedom based on high-quality contents that reflect the latest trends.”
“The investment will allow us to secure diverse contents and focus on marketing to attract more users,” said Tae-Woo Kim, CEO of Studypie. “We will do our best to become a practically helpful service in the areas of employment, job changing, investment, two jobs etc. through systematic support that is similar with users studying together offline.”
Studypie’s CEO Tae-Woo Kim is a serial entrepreneur who started up Moglue, an interactive e-book business in 2010. Kim did the planning and launch of the current service based on his experiences in the Silicon Valley and global education companies.