The Spanish edtech Ucademy, specialized in overcoming academic tests such as selectivity, among others, has just closed a €1.5 million financing round led by the venture capital firm Brighteye with investors such as Eoniq also participating in it.
It should be noted that this VC fund is focused on edtech and is one of the most active in Europe. They only invest in companies in seed or Series A stages, as is the case of the Madrid-based company.
Ramiro Zandrino, co-founder and CEO of Ucademy, said: “We are very happy that investors continue to trust us because it is a validation of our work and our vision. We have experienced very important growth since the end of 2022, but always with the intention and care of maintaining our culture and our way of being”.
The fresh capital will be used to strengthen efforts to validate and expand in international markets (they have recently established themselves in Chile and Mexico with their University Access exams); opening new markets in Spain with training related to Healthcare (EIR, MIR) and pre-Selectivity (1st and 2nd baccalaureate); as well as dedicating resources to improve further the technological product and the inclusion of AI in the personalized study process.
The goal for 2023 is to maintain the growth of previous years, which would lead them to close the year with a turnover of close to 4 million euros, and a workforce of more than 60 employees.
Ucademy works through small informative pills in the form of videos that are complemented with access to teachers 24 hours a day and always updated notes. Founded in 2021, it has established itself as a benchmark for its entrepreneurial culture and ability to attract and retain talent, as well as reaching a turnover of €2 million while being present in 8 countries.
Read the orginal article: https://www.eu-startups.com/2023/07/madrid-based-edtech-ucademy-bags-e1-5-million-to-personalise-with-ai-its-learning-process/
