Edtech B2B Startup ProSpark Announces Initial Funding, Led by AC Ventures

ProSpark, platform developer startup learning management system (LMS) for the B2B segment, today (07/5) announced that it has secured a follow-up investment for their initial funding round. Led by AC Ventures, several other investors involved include 500 Startups, Azure Ventures, Prasetia Dwidharma (follow-on), Assembly Ventures, and several angel investors. Some of them are investors who are involved in pre seed them last April 2020. No mention of the nominal value obtained.

The ProSpark LMS service combines features marketplace distributed content with a gamification system that encourages user engagement in an organization. Through this platform, companies can train and improve the skills of their workforce online. This funding is also considered to come at the right momentum, behavioral changes due to the pandemic are driving growth and demand for services EdTech for business.

Specifically, the fresh funds will also be used to expand the market and improve technology infrastructure. Currently ProSpark is struggling to immediately start a regional expansion plan in Southeast Asia. Based in Singapore, ProSpark services are offered to users in Indonesia; and now it has started to spread to the Philippines.

"Companies are constantly trying to find their best approach in the midst of a pandemic. Now that e-learning developing, learning offline become relatively more expensive, inefficient and less scalable. ProSpark services come with personalized and scalable solutions, through adaptive learning with monitorable results," said ProSpark Co-Founder & CEO Alfa Bumhira.

He continued, "This funding will help us expand the user experience globally end-to-end by providing broader content solutions, better competency gap mapping capabilities, and a focus on user learning outcomes [..] This is the right product, at the right time, in the right region."

The education sector for corporates is now developing following trend of self-development activities which can be done flexibly through the application. Actually service EdTech B2B itself has been tried by several other players in Indonesia. Starting from HarukaEDU with its products CorporateEdu, then also the Mekari SaaS platform which also released Mekari University last year, there was also Codemi who have received capital support from the venture unit made by the former founder Bukalapak. Each of course has a different approach.

"Labor offline risk being left behind in the new digital economy and this problem has been accelerated by the global pandemic. Training the workforce with the skills they need to survive and thrive is indispensable [..] We believe in solutions e-learning ProSpark can expand across Southeast Asia and address this skill-building problem across multiple sectors," said Binh Tran, General Partner of 500 Startups.