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Netology raises Round A from InVenture Partners

0 15 April 2014

Russian edutech startup Netology.ru has raised a Round A from InVenture Partners at a $5.6 million valuation. 

The project, which offers online courses for web specialists, was founded three years ago and has so far been run using the founders’ own funds. InVenture’s investment will be used to develop the project’s online platform, launch a mobile version and add new educational programs and courses. 

InVenture Partners has been searching for an edutech project capable of profiting from the sector’s rapid growth for some time, and Managing Partner Sergei Azatyan reckons that they have found what they were looking for in Netology.ru, which tripled its revenue in 2013. 

“This is our first investment in a online education project. We were looking for a a project capable of making serious revenue in the challenging education sector for a long time. Netology.ru has managed to find the right products for the right niche. With our help Netology.ru will be able to effectively scale its business.” 

Netology.ru’s General Director Maksim Spiridonov hopes to expand beyond the web-specialist sector.

“Today the online education market is just forming. As pioneers in the sector, we don’t just create interfaces for education, but work to create new ways of checking knowledge and sharing material. We are planning to broaden our range of programs - success for us would be to become an educational content marketplace for team-managers in any sector.”

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