The Spanish education sector has been able to train prestigious professionals. The activity of the venture capital is shows signs of a good future development of the sector in conjunction with online educational entities such as UNIR e IEBS which augur well for opportunities.
Study2gether and Digital Didactics, technologies for schools
Study2gether is a knowledge management platform for the education sector, especially for schools where it facilitates communication between teachers, parents and students. In 2012, it raised its first round of funding with the incorporation of incubator company Mola.com and with the financial support of Avante Extremadura through an equity loan.
Digital Didactics produces and markets online educational material for primary school subjects to more than 200 schools, with the technology company's business model consisting of direct sales to schools, which in turn sell it to schoolchildren. The didactic package for grades one to six in primary school costs around 80 euros. Didactica competes with publishers and in 2012 attracted €200k from the company. Interalios in the framework of a financing round organised by the business angel network EIX Technova.
Uspeak and Bussu, technology for language learning
It is common to read in the press about the lack of foreign language learning in Spain. These technology companies have made this task easier and easier. uSpeak Languages uLAS uses a replay algorithm to create personalised learning experiences in the form of interactive games that are unique to each user at any given moment. at the end of 2012, it received €500k in investment from several business angels and the US fund Great Oaks.
Busuu is the world's largest social network for language learning with more than 35 million users from over 200 different countries.users can access audio-visual courses in 12 languages (English, Spanish, French, German, Italian, Portuguese, Russian, Turkish, Polish, Arabic, Japanese and Chinese). They can practice their language skills with native speakers from the community through an integrated video-chat application and peer-to-peer text corrections.The Madrid-born, London-based company received $4.7M in funding from Profounders Capital and business angels.
Floqqq, an example of rapid international growth
Floqq is an on-demand training platform that at the end of 2012 received a financing round led by venture capital Cabiedes & Partners and supported by ENISA for a total of €405K. "It is an example of accelerated internationalisation for a startup less than 2 years old, which has achieved in the Latin American market with the support of the Chilean government through the Start-Up Chile programme and this year 2013 has achieved the commitment of the American incubator. 500 Startups (one of Silicon Valley's most prestigious funds) to invest around $75k in its US landing" comments Diego Gutierrez, an expert in SME financing at Abra Invest.
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