Lumist Just Announced Nearly 10 Million USD Series a Financing by Matrix Partners China
NEW YORK, NY / ACCESSWIRE / August 14, 2020 / Lumist, a leading North American education platform, announced nearly 10 million dollar Series A round financing by Matrix Partners China in December 2019. Jacky and Steven, founders of Lumist, said that this round of financing will be invested in team building, technological development, and product optimization.
“Matrix Partners is very honored to be an investor of Lumist, supporting the team to provide solidified academic services for college curriculums.” The Vice President of Matrix Partner China Niu Lixiong claimed, “As Forbes’ 30 Under 30, Jacky and Steven are the entrepreneurs we trust. “
As an insightful investor, Mr. Niu invested in Yuanfudao, China’s top online education platform with 400 million active users, and VIPKid, which dominated 70% of China’s English learning services for children. This time, Mr. Niu believes Lumist has the potential to be just as impactful in North America.
Lumist observes that online tutoring services for college students are in a skyrocketing market on a global scale. According to a 2019 research report from Bloomberg, the total market value of the university-level extracurricular education service market in North America only exceeded 7 billion dollars. The chance to evolve into unicorn startups is conceivable.
There are two core reasons for investment. Firstly, The funding team led by Jacky and Steven represents great ambition with a down-to-earth attitude. After years of development, the company has cultivated visionaries, competitiveness and mature configurations in the process of providing qualifiable college tutoring services.
Secondly, Lumist is a platform that represents higher education with adaptive learning technology. With the foundation it has, Lumist established a strong database with a knowledge scheme for 10 majors in over 100 Universities, including online exam prep, recorded sessions and snap for answers. Lumist also provides the chance for college students on socialwise and academicwise.
With the emergence of high-quality services offered by Lumist, the potential of the online educational market will be revealed rapidly in the next few years. Lumist is determined to utilize its funds, insights, and resources to be an innovative figure and provide college students with desired services.
Media inquiry please contact lumist@lumiclass.com
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Company Name:LUMI CLASS Co.,Ltd
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SOURCE: LUMI CLASS Co.,Ltd
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