Fast Campus raises W4.5b from SoftBank Ventures, IMM Investment
[THE INVESTOR] Korean career education startup Fast Campus on Feb. 8 said it received 4.5 billion won (US$4.14 million) from local venture capital firms SoftBank Ventures Korea and IMM Investment.
“We are delighted to partner with great investors who share our vision,” said co-CEOs Park Ji-woong and Lee Kang-min. “Through this investment, we will work best to provide practical value to Fast Campus visitors, as well as invest further to strengthen competitiveness.”
“Despite the growing need for a lifelong education, there aren’t enough services that provide education for adults,” said Sean Lee, managing director at SoftBank Ventures. “We expect Fast Campus to lead the growth of the adult career education market.”
Under the slogan “life changing education,” Fast Campus provides both online and offline classes in various categories, including data science, programming, marketing and foreign language. Last year, its annual revenue exceeded 10 billion won.
Fast Campus started out in 2014 as an in-house team providing professional education to Fast Track Asia, a startup, venture capital holding firm. Following the growth, with more than 70 employees and 250 courses, Fast Campus spun off from Fast Track Asia in April 2017.
Fast Track Asia’s subsidiaries include Fast Campus, real estate startup Fastfive, the venture capitalist Fast Investment, and clothing firms Stripes and Soul Booster. It previously owned food delivery app FoodFly, which was sold to Germany’s Delivery Hero.
By Ahn Sung-mi (email@example.com)