In August, PrepClass - an online tutoring marketplace - announced that it had raised its Series A. The amount came from Rise Capital. An American group whose only other investment in Africa, according to Techpoint, was in iROKOtv 5 years ago.
But, PrepClass did not disclose the amount of money they raised. Though we have learnt that the edtech startup raised $300,000 per their SEC filing. The company, incorporated in Delaware, made the filing on August 28, 2018.
This is the startups' second significant round of funding. After securing $322,000 from GSMA Ecosystem Accelerator Innovation Fund last year. Before, they had also raised a total of $164,000 in a pre-seed and seed round. This came from CRE Ventures, Emerging VAR and Venture Garden Nigeria.
Also read: Nairobi-based Lori Systems raised $6.1M this year according to SEC filing
Founded in 2013 by Obanor Chukwuwezam and Ogunlana Olumide, PrepClass was among the 20 startups that took part in the World Bank's XL Africa accelerator last year.
The startup focuses on connecting potential learners with skilled tutors.
"Our interest is to break from the norm of formal education by providing tutors for basically anything a client may wish to learn". Parents of learners from the age of 4 can sign them up for sessions that can take place physically at their homes, any time.