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Korean education social network raises $3.2m

  • Andrew Woodman
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Classting, a South Korean social networking site for students and teachers, has raised a KRW3.5 billion ($3.17 million) Series B round of funding led by Partner Investment, a tech-focused PE firm based in Seoul.

Launched in 2012, Classting claims to be the country's first educational social network. The platform hopes to fill the shortcomings of Korean educational system - where the average student-to-teacher ratio is about 34 - by making interactions between students and teachers easier.

Schools are able to register on the app and send alerts or notifications to parents and students. Teachers then create their own classroom pages on which they can post homework assignments. The platform is used by over 100,000 teachers and one million parents and students, covering around 80% of Korean schools. The firm raised a $1 million Series A round from SoftBank Ventures Korea (SBVK) in June 2013.

Classting is not the only VC-backed start-up in Korea to tap the country's rising education demands. Last October, cloud-based education technology start-up KnowRE raised a $6.8 million Series A round from SBVK. Like Classting, KnowRE aims to personalize education for students by offering an adaptive learning platform catered to individual needs.

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