Singaporean edtech startup Teamie resurfaces for $1m of fresh funding

Photo credit: Pixabay.

It’s been a while since we last heard of education startup Teamie. Turns out the company has been busy, and today announced it has raised US$1.1 million in a pre-series A round.

The round was led by Singapore-based venture capital firm ACP together with Spring Seeds Capital. Phystech Ventures, a VC that focuses on areas like IoT, energy, and edtech, also participated along with an angel investor.

Teamie is targeting the Asian e-learning market that is expected to reach US$12.4 billion by 2020.

Teamie was founded in 2011 with the aim of creating a social, collaborative online tool for classrooms and businesses. Now it offers online learning programs for various levels, including school, college, and enterprise. The service is available in web and mobile app form.

The startup is targeting the Asian e-learning market that is expected to reach US$12.4 billion in revenue by 2020, according to market research firm Ambient Insight.

The social aspect is a big part of the user experience. Users can enter “classrooms” containing their preferred subject and communicate with fellow students, co-workers, and teachers. The system uses data analytics to offer insights on performance, grades, tests, and so on.

Teamie will use the funding to continue research and development for its product. Specifically, the team wants to create “deeper learning analytics” so it can offer a more personalized service and improve user engagement and the quality of learning.

See: Half a million users later, Singapore’s edu-startup Teamie makes a profit

In 2012, Teamie was the winning startup in our Arena pitching contest. A year later, it announced it crossed the 500,000 user mark. The company has gone on to work with clients like United World College South East Asia, St. Joseph’s Institution International School, International Baccalaureate, and Uniteam Training. It’s available in eight countries, including Singapore, Australia, Malaysia, and Thailand.

“Social platforms have become the de-facto mode of communication, and together with smartphones and cloud computing, they have changed how we live, work, play and learn,” says co-founder and CEO Shivanu Shukla in a statement.

“We believe that local players with a strong team and deep understanding of regional market specifics have a bigger chance to dominate in the region compared to large international companies,” adds Olga Maslikhova, managing partner for Phystech Ventures.

We have reached out to Teamie for more details and will update this story when we hear back.

Converted from Singapore dollars. US$1 = S$1.36