GSV Ventures has invested US$7 million into Valenture Institute, an edu-tech business offering a curriculum recognized by the world’s leading universities.
GSV Ventures is a global venture capital fund focused on early-stage entrepreneurial partnerships with exceptional global education technology companies like, most notably: Coursera, Photomath, ClassDojo, and Masterclass.
It has, undoubtedly, shown its passion for investing in the rapidly growing $7 trillion digital learning technology space, the evolution of education, and future-forward approaches to learning.
Valenture Institute was founded by Robert Paddock, who was also co-founder of Getsmarter, a transformative digital education company successfully acquired by NASDAQ listed 2U in 2017.
“The global demand for high quality online schooling is skyrocketing in the current climate. We are absolutely thrilled to be partnering with the GSV team, who have already added immense value to our business through their knowledge, connections and strategic guidance. We’re scaling up rapidly, and look forward to working with the GSV team to achieve our goal of becoming the largest and most impactful school on the planet,” says Paddock.
In a press statement released, Deborah Quazzo of GSV Ventures added that, the vision was clear and it’s not about their (Valenture Institute) online experience or blended-learning boutique campuses, but it is about evolving education in a way never seen before.
She revealed that they usually back companies they know have the potential to change the narrative of education and in this case, the Valenture Institute team has the grit, know-how and innovative spirit to change the way we educate all learners around the globe in future – be that primary, secondary or at tertiary level.
With the goal of being the biggest online high school in the world by 2028, this investment will certainly add fuel to Valenture Institute’s already raging fire. The school was established as a fully-fledged online offering pre-COVID, and the forced shift to online during lockdown accelerated the school’s growth. Almost exponentially.
Valenture Institute’s proud Bradley Elliott, Chief Marketing and Innovation Officer says,
“The investment will be used for further global expansion, enhancing the learning experience, and building out additional offerings such as new subjects and exclusive bootcamps like Coding, Design Thinking, Data Science and more.”
More specifically, resources will be allocated to the roll-out of the school’s hybrid, tech-enabled, boutique campuses, which combine online learning, in-person guidance by Learning Coaches and socialising with peers and additional features of physical spaces.
Currently, the school has three South African boutique campuses opening its doors in January 2021 in Joburg’s Dunkeld, and Cape Town’s southern suburbs of Newlands and Constantia. However, global destinations like London, Boston, and New York will soon be home to a Valenture Campus.
Thanks to the investment from GSV Ventures into Valenture Institute, it only means the future of high school is now.
Curacel: Insurtech Startup Secures $450K Pre-seed Funding Led by Atlantica Ventures & Consonance
The insurtech startup, Curacel, an AI-powered platform for claims processing and fraud management in Africa, reports that it has raised $450,000 pre-seed funding in a round that was led by Atlantica Ventures and Consonance with participation from Kepple Ventures and other African angel investors.
The insurtech startup already works with some of the biggest insurers on the continent, including AXA Mansard, Liberty Health and Old Mutual, as well as more than 800 hospitals in Nigeria, Ghana, and Uganda. It plans to expand into 10 new African countries by the end of 2021.
Every year, African insurers lose more than $12 billion to fraudulent, wasteful, and abusive claims. Curacel’s flagship CLAIMS platform acts as a bridge between primary care hospitals and Africa’s insurance companies, using advanced artificial intelligence to ensure that insurance companies only pay claims for the correct treatment, appropriate medications and recommended patient therapies.
Curacel is also scheduled to launch Curacel Capital, a cash advance product that makes it easier for healthcare providers to access working capital to mitigate financial challenges. Delayed payments and other inefficiencies in the payment process means many African healthcare providers often have to make the difficult choice between keeping the books balanced or providing healthcare at a loss. With Curacel Capital, healthcare providers can access lump sums of up to three times their average monthly billings, based on claims processed on the Curacel portal, ensuring that they can continue to deliver essential services without undue disruption.
With insurance penetration at just 2.8% across the continent, many Africans are one accident or health emergency away from poverty. And in Africa’s communal societies, tragedy impacts entire communities, with people emptying their savings to pay for medical expenses, burials or other disaster relief for family members and kin. By leveraging Curacel’s products and services, insurers across the continent are better equipped to close the insurance gap and safeguard prosperity.
According to Curacel Co-founder and CEO, Henry Mascot, in a press statement said,
“We are excited to have these investors on board and we are looking forward to partnering with them to drive our vision of improving insurance inclusion across Africa.”
At Curacel he shares, they are uniquely positioned to safeguard livelihoods and increase the quality of life through their unique, market-leading products and services.
IK Kanu, Partner at Atlantica Ventures noted that,
“The African insurance market represents a significant growth opportunity and we are delighted to be partnering with Curacel to drive growth in this sector. There is an opportunity to create an entirely new market of products and services here and we look forward to supporting the team to improve health outcomes across the continent.”
Finally, Mobolaji Adeoye, the Managing Partner at Consonance adds that they believe the Curacel team has what it takes to be market leaders and are therefore excited to support them. Also stressing that they have a great product and equally delighted to be coming onboard at this early stage of their growth.
Got News for us?
Submit Press Release/News: Have you recently launched your startup, raised funding or any news about your company? Email us at firstname.lastname@example.org. We will be happy to share your story with the world!