HELSINKI, 1st March, 2022
Nordic venture capital company Sparkmind.vc has led a $2m seed funding round for Vygo, the Australia-based company offering universities a SaaS platform for running student support programs.
Other investors of the round include SuperCharger Ventures, Australian Catholic University and Founder Friendly Funding as well as other undisclosed institutional and private investors.
In short period of time Vygo has gained 20% market share in the Australian university market and has entered the European market with good momentum. The pre-seed funding will enable Vygo to further boost its growth in Europe and build a beachhead position in the US market.
Ben Hallett, Vygo CEO & Co-Founder, comments: “At Vygo, we believe that social experience is at the core of impactful learning. The Vygo platform gives every learner a social education community filled with their peers, mentors, tutors, advisors and other supporters. With Vygo, education institutions are able to reinvent their social support ecosystem online and ultimately improve their student outcomes whilst scaling their impact. Being 100% EdTech focused Sparkmind.vc is an ideal partner for us and we look forward to continuing our journey and mission together.”
Commenting on the deal, Sparkmind.vc Partner Kai Talas says: “As we know, creating sense of belonging and engagement are critical factors for better student wellbeing, learning outcomes and lower dropout rates. Enabling targeted support and network building, Vygo’s platform allows universities to offer exactly this, at scale. We see this as a critical element of the student experience and believe it will be one of the key success drivers for universities going ahead. On top of the deeply meaningful offering and the global market opportunity, we are also very impressed by the highly capable team and the momentum the company has generated.”
Vygo helps educators champion more learners. For learners, the Vygo platform organises all of their institution's support services at their fingertips. It gives students the tools to connect with the people they need, whenever they need them, wherever they are. With Vygo, educators organise, digitise and optimise their student support services to drive student retention, wellbeing and success. The learner support platform allows institutions to cost-effectively scale their student impact.
Sparkmind.vc is the first Nordic venture capital company exclusively focused on the learning sector. The company invests from Seed to Series B stages in teams transforming how the world learns. Its investments are focused on solutions that improve learning outcomes, increase access to and efficiency of learning, or use data insight to better support educators and learners.