As cliched as it sounds, Edtech has surely revolutionized the global education market. With a predicted market worth of close to USD 250 billion by 2020, the best Edtech startups in the world are re-strategizing their market strategy and designing several innovative products. Before diving into the names of the top ten Edtech companies in the world, here is a brief on what Edtech is all about and why are investors increasing their stakes in this market.
What is Edtech?
Edtech, or education technology, can be broadly defined as the use of technology to make the teaching and learning process far more simplified, easy to observe, and most of all be more student-friendly. From the most simplistic use of technology like audio-video tools to moving on to the cloud technology and MOOC, Edtech as evolved drastically over the past few decades.
With digital content being the rule of the day, technologies like AI, VR, and IoT are being hugely employed by the K-12 Edtech companies to design the curriculum for students. Some of the fastest growing Edtech companies like LessonApp, School OS, and Gro Play have designed products which provide a unique learning experience to the students.
For instance, School OS, often seen as one of the best education startups in the world, is an AI-powered education platform. The Edtech company analyzes the school’s data to provide personal counseling to both the teachers and the parents – thereby improving student engagement. In short, this platform improves the traditional learning processes making parent-school communication easy, engaging and effective.
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Global Edtech Market Analysis
In the year 2017 alone, the global Edtech market generated a revenue of more than USD 17 billion. This phenomenal growth can be attributed to high level of digitization in the APAC and EMEA regions, as well as to mature economies like the US which have adopted education technology on a large scale. According to our market research analysts, Asia is one of the fastest growing learning markets in the world, and by 2020 will hold 23% of the global Edtech market.
The global e-learning market will register a revenue of close to USD 271 billion by 2022. To see more information about the global Edtech market size, top Edtech companies and Edtech future trends, check out Technavio’s Global E-learning Market Report 2018-2022, or download the FREE report sample now!
Top 10 Edtech Companies in the World 2018
The online learning platform is one of the best examples of how Edtech can be employed to provide access to education at the universal level. By partnering with top universities and organizations, Coursera has been able to connect the teacher-student community across the globe. One of the best education startups in the world is backed by leading venture capital firms such as Kleiner Perkins Caufield & Byers, New Enterprise Associates, GSV Capital, International Finance Corporation, Laureate Education Inc., and Learn Capital.
Till date, Coursera has secured fundings of more than USD 145 million. As digitization makes inroads in the APAC region, Market analysts at Technavio, predict the company to widen its consumer base in the next five years.
The instant tutoring platform enables teachers and students to work together using mobile and web devices. Over two rounds of funding the company raised a total of?$250,000. What makes HelpHub so popular among the student and teacher community is its ability to provide an in-depth analysis of all the interactions which takes place on its platform.
Being one of the fastest growing Edtech companies is seen as one of the benchmarks which can be emulated by the other education startups.
One of the leading Edtech companies in India, BrainGroom is an online marketplace for educational & lifestyle classes. The Edtech startup connects trainers from across the globe to niche target segments. The company is already in talks with venture capitalists to raise USD 5 million for its expansion plans.
According to our industry experts, with its expansion plan in the other APAC nations, BrainGroom is one of the fastest growing Edtech companies.
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With a seed funding of USD 1.7 million, StudySoup is among the top ten Edtech companies of 2018. The online learning marketplace enables college students to sell quality study materials. The Edtech startup is a peer to peer learning platform, which helps students make money by selling guides, notes, and tutoring services.
Another top Edtech company, CodeMonkey teaches coding skills to kids. The Edtech platform combines games with learning. CodeAdventure is the name of its coding course which fosters the development of executive functioning skills such as problem-solving and planning as well as geometric and mathematical thinking.?Until 2017, the company had amassed close to USD 500,000 in revenue.
One of the top Edtech companies from India, Byju’s online learning platform was founded in 2015. Recently the education technology company got in talks with the SoftBank and other investors to raise $200-250 million to fund its global expansion plans. Seen as a major name in India’s Edtech space, Byju’s app has more 3 lakh annual paid subscriber.
One of the K-12 Edtech companies, ClassTag focuses beyond helping students in everyday studies – rather this is a platform which enables teachers to schedule conferences, organize events, as well as come up with newsletter campaigns regular individualized parent-teacher communication. Recently with its nationwide launch, ClassTag provided free classroom supplies and exclusive discounts to teachers worth USD 3 million.
EduKart is another leading K-12 Edtech company which offers 2000+ degree, diploma, certificate, entrance coaching & K12 courses. The Edtech company provides a wide range of online, distance and correspondence degree and diploma courses like MBA, Executive MBA, PGDM, MCA, M.Sc. IT, MA, MCom, BBA, BCA, BA, BCom and B.Sc. IT. In the year 2016, the payment services provider Paytm brought EduKart.
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One of the fastest growing Edtech companies at the global level, BeED is an experiential learning platform. Their unique learning experiences bridge the gap between textbook
learning and an on-site application of knowledge by connecting travel
Another leading name in the Edtech market, Simplilearn is based in California, San Francisco, and Bangalore. The startup provides online professional courses in?disciplines such as cybersecurity, cloud computing, project management,?digital marketing, and data science.
The Future of the Top Edtech Companies
With more than 600 million students enrolled in K-12 schools in Asia alone, the scope for expansion of the Edtech companies is pretty huge. Especially with the introduction of MOOCs, the Edtech startups throughout the globe are all set to garner more investments and expand gradually.
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