Prep, a Vietnam-based language learning and test preparation platform, has successfully secured $7 million in Series A funding. The round was co-led by Cercano Management Asia and Northstar Ventures, with additional participation from Touchstone Partners, East Ventures, and Saison Capital. This significant investment will fuel Prep’s expansion efforts, allowing the company to bolster its team, enhance its learning tools, and extend its reach into new language products and markets.
Founded in 2020 by CEO Tu Pham and CTO Nam Tran, Prep has rapidly gained traction in the education sector. Pham, armed with two Master’s degrees in Language Teaching and Business Management from renowned UK universities, coupled with a decade of teaching experience and a knack for programming, envisioned a platform that could provide personalized learning experiences for every student. With a mission to empower learners to achieve their educational goals, Prep has garnered acclaim for its innovative approach to language learning.
Despite its relatively young age, Prep has amassed a user base numbering in the hundreds of thousands and continues to experience rapid growth. The company’s success can be attributed to its proprietary AI technologies, including the AI-powered Virtual Speaking and Virtual Writing Rooms, which enable scalable and cost-effective education delivery. This accessibility has allowed Prep to reach students in both major urban centers and underserved communities in Tier 2 and 3 towns and cities, with 95% of users experiencing significant score improvements within just two months.
Commenting on the funding round, Tu Pham emphasized Prep’s commitment to democratizing education: “The ultimate vision of Prep is to enable every learner to feel as if they have a dedicated personal teacher and mentor to help them achieve their learning targets. This new investment is an important milestone for us in realizing this vision.”
Investors, recognizing the transformative potential of Prep’s technology-driven approach, have expressed enthusiasm for the company’s prospects. MJ Yu, Managing Director of Cercano Management Asia, highlighted the significance of technology-enabled education in driving positive outcomes, while Melvin Hade, Managing Director at Northstar Ventures, lauded Prep’s potential to disrupt the language test prep market in Vietnam and beyond.
With continued support from existing seed round investors and a clear roadmap for expansion, Prep is poised to solidify its position as a leader in the education technology space. As the demand for language learning and test preparation continues to grow in Vietnam and Southeast Asia, Prep remains dedicated to refining its technologies and delivering personalized learning experiences to its ever-expanding user base.