Upgrade Academy, an online training platform for admission to top universities in the world, intends to attract 350.000 EUR funding.
100.000 EUR are aimed on Seedblink and 2,6% of the company’s shares will be put up for sale on this platform.
The investment round is supported by private investors experienced in technology through the financing of 250.000 EUR.
The funding obtained will be directed to the expansion into other European markets and to product development.
Upgrade Academy aims to expand the international coaching service for admission in countries such as Spain, the UK, Poland and Russia.
The company was launched in 2017 by Constantin Bosînceanu, with over 10 years of experience in technology and finance, gained both on the Romanian market as well as in the United States.
Camelia Diaconu and Alex Bulintis, with notable experience in technology, content creation and entrepreneurship, joined as co-founders.
The three created Upgrade Academy with the intention of developing the most effective online platform for preparation for admission to top universities, as well as for education for the jobs of the future.
Both the founding members and the rest of the team have graduated from top faculties, such as Harvard, Cambridge, Minerva or Oxford.
The Upgrade Academy platform has an admission rate of 84% into the top 100 universities in the world and a Net Promoter Score of 64, from customers.
For 2021, the management estimates a turnover of 1 million EUR, three times higher compared to 2020, in the context of the higher interest in the field of EduTech.
The market for education services is estimated at 3.3 million EUR in Romania and 503 million EUR in Europe.
Currently, Upgrade Academy is the market leader in Romania, with a market share of 10%.