Vietnamese Online English Tutoring Startup DVE Receives Fresh Capital From RareJob
RareJob, which utilizes human-related data to develop global talents, announced the capital investment in DVE which runs Kynaforkids, a leading online English language training solution for students and adults in Vietnam.
The company recognizes this collaborative approach which supplies tutors to the partners as one of the strategic models to expand business globally in the future. RareJob is also looking for more partnership opportunities by applying this model to other foreign companies.
RareJob and DVE also plan to develop various collaborations for DVE’s existing services for adults as well as for kids to seek business expansion by providing existing RareJob Eikaiwa materials, distributing PROGOS®, the AI business English speaking test. The company will explore growth potential in Vietnam by creating synergies with DVE, starting with this partnership that leverages existing assets. It also continues to strengthen business partnerships with foreign companies, which is one of the pillars of the growth strategy.
Founded in 2007 by Gaku Nakamura, a Tokyo-based company suggests a solution for this by utilizing our network of approximately 6,000 available Filipino tutors to provide high-quality and stable lessons to DVE’s students.
Commenting on the capital investment, Co-founder and CEO of Rarejob, Gaku Nakamura, said, “I’m happy to announce that RareJob invested in Kynaforkids, Vietnam’s online ESL player. RareJob will be providing tutor resources and some other knowledge of live tutoring lessons to their service.”
Vietnam is also one of the Asian countries which have great potential in the English learning market. Its Internet penetration rate has been rising and the number of internet users in Vietnam is the third-largest in Southeast Asian countries. In addition, the proportion of the household expenditure on education is relatively larger than that of other Asian countries, which indicates that education for kids matters in Vietnamese society.
In addition, the impact of the COVID-19 pandemic let more than ninety per cent of kids have online learning experiences, which has rapidly grown needs for online learning. By taking advantage of this situation, DVE has been expanding their online English tutoring solution, under Kyna English 1-1 brand both domestically and internationally and kept growing the number of users steadily.
In April 2021, RareJob expanded business alliances with EdTech players overseas by making an additional investment in Globish Academia(Thailand)Company Limited, (hereafter, “Globish”), the Thai online English tutoring service provider and Multibhashi Solutions Pvt Ltd (hereafter, “Multibhashi”), the Indian online English tutoring service provider.
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