South Korean edtech startup CLASSUM scores $11m in funding

CLASSUM, a South Korea-based B2B SaaS company that provides and interactive learning platform, has announced raising $11 million in its pre-Series B funding round.

The funding round was anchored by Dunamu & Partners and participated by Silicon Valley-based Big Basin Capital and South Korean investor Pearl Abyss Capital.

The startup, founded in 2018, said it will use the fresh capital to attract more top tier talent and scale its presence across more key geographies.

The $11 million round announced today follows the $6 million Series A round in 2021, which was led by Pearl Abyss Capital, Storm Venture, Big Basin Capital, and Smilegate Investment.

CLASSUM provides an interactive learning platform for corporates and universities. Provided as a SaaS model, CLASSUM enables active communication and engagement from participants.

It also enables learners and educators to maximize their communication and engagement by supporting social media-based communicating features and selective anonymity among participants to minimize barriers in Q&As and sharing knowledge.

In addition, the service also uses Artificial Intelligence (AI) to curate FAQs, as well as provide data driven insight into the dynamics of each learning environment.

CLASSUM is currently used by more than 6,000 organizations across 32 countries. In South Korea, where the company was started, CLASSUM is used by the top tier educational institutions such as Seoul National University, Korea Advanced Institute of Science and Technology (KAIST) and Yonsei University.

The company is also widely adopted by multinational corporations such as Samsung Electronics, LG Academy, Prudential, Shiseido, and World Vision.

“Disruption is imminent in the education industry, and we believe key stakeholders are ready and willing to adopt new technology to enhance the overall learning experience,” said CLASSUM Co-founder and CEO Youjin Choi.

Adding his support following the latest funding, Dunamu & Partners CEO and managing partner Ryan Lee said “We were impressed by CLASSUM’s customer centric product which has received strong endorsement by both the education and corporate sector alike. The educational software scene is ripe for transformation, and the unparalleled pace at which CLASSUM is closing new sizeable contracts is a testament to the market opportunity that the company can capture going forward.”