SoftBank Ventures invests W2b in Korean education startup
[THE INVESTOR] SoftBank Ventures Korea said on Oct. 11 it has invested 2 billion won (US$1.76 million) in Brave Company, a Korean education startup, following its first funding worth 300 million won in 2015.
Founded in 2012, Brave is an online course publishing company specialized in public service examinations and college scholastic ability tests. Since the initial investment from SoftBank Ventures, its sales have doubled to 1 billion won, the company said.
“Brave is seeking to solve problems in the current online education market that relies heavily on some unexperienced lecturers as they offer open platforms for individual lectures,” Sean Lee, partner at Softbank Ventures Korea, said. “We hope the company will lead changes in the nation’s online education market.”
Brave CEO Yang Seung-yoon said the firm plans to use the latest funding on R&D, especially for creating new contents.
By Park Ga-young (firstname.lastname@example.org)