What truly sets Wize apart is our commitment to working with educators who are highly skilled and passionate about simplifying complex concepts on a platform that allows for complete personalization based on courses taught at a student's academic institution.
FREMONT, CA: Wize, a fast-growing online education network that provides course-specific video guides and exam-like practice issues for high school, college, and university students throughout North America, reported that it has raised 3 million dollars in funding.
"The Wize platform already has a track record of success in developing and delivering superior course-tailored content, having helped over 70,000 students across North America with thousands of courses available on-demand," says Cyrus Moradian, CEO, and Co-Founder, Wize. He adds: "We expect this momentum to accelerate as we continue our relentless focus on expanding our offering in a way that works best for students and parents."
The funds will be used to build and deliver a modern, more responsive learning interface and drive curriculum creation growth in all grades, including the inclusion of the MCAT and LSAT test preparation. Besides, the money will be used to accelerate the business's growth across Canada and the United States. It will also round out the teaching, UX and growth talent squad, which will continue to grow and sell the Wize platform, allowing it to become the world's leading online training company for course-specific learning.
"Wize is passionately focused on helping people reach their potential and they deeply understand that we all learn in wildly different ways. Our educational institutions were not designed for that, and this last year has made that glaringly clear," says Chris Bruzzo, EVP Marketing and Commercial at Electronic Arts, who has been advising Wize alongside a group of prominent angel investors and venture capital firms Luma Launch and Panache Ventures. He adds: "During the pandemic, the Wize team accelerated their plans to aid learners at every level -- high school, college and university, and post-graduate education. Sure, it's a massive business opportunity, but the Wize experience is entirely focused on empowering the human opportunity."
According to HolonIQ1, the education market is starved of capital relative to other markets, which means that governments and universities have not been able to keep up with digital learning. This was compounded in 2020 by the onset of COVID-19, which shed light on the effect of underfunding on education. However, it also demonstrated the importance of Wize's complimentary online learning network, which develops learning programs that precisely fit high school and post-secondary course syllabuses. Under-digitization in education is the primary catalyst behind the projected compound annual growth rate of the EdTech industry from 157 billion dollars in 2018 to 420 billion dollars by 20252. Wize plans to make a substantial contribution to this growth.
Moradian concludes: "What truly sets Wize apart is our commitment to working with educators who are highly skilled and passionate about simplifying complex concepts on a platform that allows for complete personalization based on courses taught at a student's academic institution. This focus on personalization in everything we do is what will allow Wize to become a first-choice provider among students and parents at high school and post-secondary institutions and is what will propel us to become a formidable leader in online learning."