Coursmos, an online learning platform that offers micro-learning courses, has received $600,000 in seed investment in a deal which is by Russian investment fund Altera Capital Group, with participation from Imperious Group. Coursmos has now raised a total of $1.2 million in investment since it began in March 2013. It is planning to raise a Series A funding around September of 2015.
Coursmos will use this new funding to develop training courses and to expand its re-launch of mobile applications.
Roman Kostochka, Chief Executive Officer of Coursmos, described his mission:
“Our mission is to collate and present all of the world’s practical knowledge in an effective educational format. The Coursmos team is working hard to make this a reality, and having received this investment, we are ready to demonstrate significant growth.”
Kostochka added that:
“In autumn 2015, we are planning to draw round A series investment and to scale up the project for the world market, adapting the online learning process to particular national markets. We also believe that the Coursmos concept could be of interest to the corporate training sector, where concise material can be important factor in saving time and money on personal training. For this reason we also expect to enter B2B market in the near future, with great success.”
Corsmos has around 520,000 registered users and offers 11,000 micro-courses across 20 areas. Even though it offers some free access to courses, it launched a premium tier in December 2014 that costs $8.88 per month for unlimited access to all the micro-courses in its platform. Around 4,000 of its users are also course creators rather than just being the students.
Coursmos will build a corporate version that will be loaded in the company’s education system by company system administrators, which will allow their employees to access training in the office and on mobile phones when outside the office.
Kirill Androsov of Altera Capital Group justified the decision:
“This is our second investment in an online product. The decision to invest comes when we believe that the online format is best for the development of a service. The online education sector is one of the priority areas of our fund, on a par with medical services and fintech. When we looked at the micro- course industry, the Coursmos team, and the project’s business model, we decided that investment would help Coursmos to achieve rapid success.”
Coursmos states that its strongest markets at this point are the United States, Russia, United Kingdom, India, Brazil and Indonesia. Soon it will be concentrating on expanding their company to other countries in South America and Asia.
The start-up is an alum of Ukraine- based tech incubator Happy Farm.