Coursmos, an online learning startup with Russian and Ukrainian origins, has received $600,000 in seed investment in a deal led by Altera Capital Group with participation from Imperious Group. Coursmos has now raised a total of $1.2 million in investment since its launch in March 2014.
An alum of Kyiv (Kyiv)-based tech incubator Happy Farm, the startup is now headquartered in San Francisco.
Coursmos, which presents itself as “the world’s first micro-learning platform,” offers 11,000 micro-courses across 20 areas, generating profit through user subscription fees of $8.88 per month.
The project is currently available in the UK, USA, Russia, India, Brazil and Indonesia.
In January 2015, Coursmos had 520,000 registered students. Courses are personalised based on user details, and customers can also create their own online school offering their own courses.
“Our mission is to collate and present all of the world’s practical knowledge in an effective educational format. The Coursmos team is working hard to make this a reality, and having received this investment, we are ready to demonstrate significant growth,” said Coursmos CEO Roman Kostochka.
“In autumn 2015, we are planning to draw round A series investment and to scale up the project for the world market, adapting the online learning process to particular national markets. We also believe that the Coursmos concept could be of interest to the corporate training sector, where concise material can be an important factor in saving time and money on personnel training. For this reason we also expect to enter the B2B market in the near future, with great success,” Kostochka added.
“This is our second investment in an online product. The decision to invest comes when we believe that the online format is best for the development of a service. The online education sector is one of the priority areas for our fund, on a par with medical services and fintech. When we looked at the micro-course industry, the Coursmos team, and the project’s business model, we decided that investment would help Coursmos to achieve rapid success,” stated Kirill Androsov of Altera Capital Group.