Edtech startup EDGE Tutor raises funds for global expansion
SINGAPORE — Singapore-based edtech startup EDGE Tutor International has raised an undisclosed amount in a seed funding round to expand its online tutor operations globally.
EDGE Tutor partners with tutoring companies in over 20 countries across the Americas, Europe, and Asia-Pacific to provide highly qualified and engaged online tutors. The company puts tutors through a rigorous screening process, with only 5% of applicants accepted.
The new funds will allow EDGE Tutor to accelerate growth in existing markets, further expand its pool of tutors, and develop new products and services. The company aims to achieve profitability in 2024, according to founder and CEO Henry Motte-Muñoz.
The funding round was led by M V Partners and Seaborne Capital. Other participants included Kaya Founders, Ideaspace, Orvel Ventures, and executives from PayMongo, Kalibrr, and Foxmont.
EDGE Tutor has successfully trained over 1,300 licensed teachers in evidence-based online teaching methodologies. Applicants go through a rigorous screening process, with only 5% accepted.
Newly appointed COO Cecilia Calvo attributes EDGE Tutor’s growth to its dedicated tutors supporting students since day one.
“We strategically partnered with global tutoring leaders who share our deep appreciation for educators, recognizing their scarcity as a valuable resource,” Calvo said.
The global online tutoring market has grown rapidly as more students seek supplemental academic support outside school.
Industry projections estimate the worldwide outsourced tutoring market at $7.6 billion in 2022. It is projected to rise 14.9% year from 2023 to 2030.
