OneClass has raised $1.6 million in Series A funding. Asian private equity firm SAIF Partners led the round with participation from existing investors, such as Canadian early-stage venture capital firm Real Ventures. Based in Toronto, OneClass is an educational platform that crowdsources university course content. Update: The company is a 2012 graduate of FounderFuel, a Montréal-based accelerator that helps early stage web, mobile and SaaS startups raise seed capital.
Toronto, Canada, Oct 21, 2013 – OneClass announces a $1.6M Series A led by SAIF partners and follow-on investments from existing investors such as Real Ventures. OneClass is an educational platform crowdsourcing university course content. The startup is currently on its way to becoming the largest global interactive library for educational content across all levels of education.
Since its inception in September 2010, the site has evolved from a simple course note repository to a richer and more comprehensive platform. The site now covers over 10,000 courses with notes, exam prep videos and common university subject videos from introductory level calculus to 1st-year chemistry.
“Making that transition from high school to university is difficult, especially from a 20 person classroom to a 500 person class. Students have limited and costly options to find extra help after a lecture ends – the choices are Google, Youtube and private tutors charging $40-80/hr. OneClass is tackling an issue that affects millions of students worldwide.” says Jack Tai – CEO and Co-Founder of OneClass.
OneClass leverages its community of students to help produce top-notch content and allows subject experts to create videos and other supplementary material tackling common questions on midterms and exams for popular university courses. Every day, OneClass saves thousands of students hours from filtering through unrelated and outdated content from the web.
Students contribute to OneClass’s rapidly expanding archive of hundreds of thousands of course notes, adding up to 10,000 different courses to date. The team is extremely focused on maintaining and improving the quality of all site content. One successful method they utilize is their use of badges and rewards for top contributors. Never losing sight of their vision, the OneClass team is focused on providing every student with the content they need. Simply reading class slides is just not enough for the average student to excel in their courses.
To date, this Canadian start-up has established its presence in over 50 schools across Canada and the US with 200,000 users and is on its way to taking the company to the next level.
The team is looking beyond just post-secondary students. They are also considering a vertical expansion to both high school and graduate school course resources. The company’s ultimate goal is to instantly deliver invaluable educational content that is immediately useful and relevant to any knowledge seeker on one platform.
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