Educational platform Netologia and Foxford merged. InVenture Partners Fund had invested in the new company $1,1 mln. Funds will be aimed at promotion of current services and development of new projects.
Educational platform Netologia merged with school educational center Foxford, previously known as 100EGE.ru. New company is now being called as Online Education Center Netologia-Group.
Venture Fund InVenture Partners (Netologia was in portfolio already) had invested in merged company $1,1 mln. Preliminary cost of the deal Netologia-Group was $14,1 mln., according to the Fund’s press-release. Previously, both services developed out of profits and founders’ investors. Netologia managed to attract $600 thousand in April 2014, Foxford didn’t have experience with external investments before this.
In the result we received the company that provide education in different age groups. Foxford – works with pupils and prepare them to state exams (EGE and GIA). Netologia’s users want to improve their professional qualities.