Upgrade Academy, an online training platform for admission to top universities around the world, aims to attract EUR 350,000 in funding, of which EUR 100,000 goes to Seedblink. 2.6% of the company’s shares will go on sale on SeedBlink today, September 15th.
The investment round is supported by experienced private investors in technology through funding of EUR 250,000: Cofounder Zone (Poland), Grouport (Czech Republic), Growceanu (RO), Angel Investors (United States), among which include the co-founders of WHOOP (American company Unicorn). The funding obtained will be used for expansion into other European markets and product development. Upgrade Academy aims to expand the international coaching service for admission to countries such as Spain, UK, Poland and Russia.
The company was launched in 2017 by Constantin BosÃ®nceanu, with more than 10 years of experience in technology and finance, acquired both in the Romanian market and in the United States. Camelia Diaconu and Alex Bulintis, with notable experience in technology, content creation and entrepreneurship, have joined as co-founders. The three created Upgrade Academy with the aim of developing the most effective online platform for preparation for admission to top universities, as well as training for jobs of the future. The founding members and the rest of the team are graduates of the best faculties, such as Harvard, Cambridge, Minerva or Oxford.
âOur platform responds to an obvious market need, namely access to digital educational content and personalized coaching, provided by the best graduates of the faculty. We already have significant revenues from international clients in Germany, France, Spain, UK, Greece, Vietnam and our short term strategic goal is to expand into new European markets. We are pleased that this first round of investments is secured by funding in the amount of EUR 250,000 from external private investors, as well as from Romania â, says Constantin BosÃ®nceanu, Founder and CEO of Upgrade Academy.
The Upgrade Academy platform has an admission rate of 84% in the top 100 universities in the world and a Net Promoter Score of 64, from clients.
For 2021, management estimates a turnover of 1 million euros, three times higher than in 2020, in the context of the increased interest in the field of EduTech, particularly in European countries of the west.
âConstantine has made a very good impression on us since our first conversation in March, by his energy and ambition, but also by the noble subject he addresses. Unfortunately, the agility of the education system cannot be compared to that of high school students, leaving room for ambitious startups to meet these needs. The fact that Upgrade Academy has surrounded itself with a number of valuable international advisors after graduating from Supercharger Ventures Accelerator places them in a privileged position to evolve their solution. Upgrade Academy is working hard to become a major player and we are delighted to offer this EdTech opportunity to our investors, âsaid Andrei Dudoiu, Managing Partner and President of BoD SeedBlink.
The educational services market is estimated at 3.3 million euros in Romania and 503 million euros in Europe. Currently, Upgrade Academy is the market leader in Romania, with a 10% market share.