The startup grew 520% in the last year and continues to explore with creativity and technology a market full of opportunities for innovation
In recent years, Brazilian education has accelerated its digitization process. The market, still little explored, has attracted edtechs that offer solutions that positively impact the development of 47.8 million Brazilian students, both public and private. The difficulties brought by the pandemic further strengthened this world of opportunities. According to the United Nations Children’s Emergency Fund (UNICEF), approximately 4.8 million Brazilian students did not have access to regular education or temporarily abandoned their studies during the period.
The lack of required support and a heated market were determining factors for TutorMundi – a school reinforcement platform for students from primary to pre-university entrance exams – to target Latin America and bring its solutions and technology to Brazilian education.
The edtech, founded in 2016 by entrepreneur and automation engineer Raphael Coelho, is a pioneer in online and real-time tutoring. Unlike its competitors Chegg, Zuoyebang, and Course Hero, the startup saw potential in the Latin American market and impacts hundreds of thousands of Brazilian students. The edtech grew 520% in Brazil in 2020 alone.
“Brazilian education seeks solutions that directly support the development of students and explore the potential of each student,” comments Raphael Coelho, CEO and founder of TutorMundi. “Technology for education is still a recent issue for the Brazilian market, which in turn offers competitive advantages and opportunities for large-scale growth,” he continues.
According to data from Holon IQ, there are currently 28 unicorn edtechs around the world. Five of these edtechs provide tutoring, such as the Chinese ByJu’s US$ 16.5B; Yuanfudao $15.5B; Zuoyebang $10 BI; Knowbox $1B; and the Austrian GoStudent US$ 1.7B. TutorMundi, elected as one of the 100 most innovative edtechs in Latin America, is moving fast towards becoming the first Brazilian unicorn in this blue ocean.
Edtech has more than 2,000 registered tutors in its base and offers immediate service every day of the week, including holidays and weekends. “We offer a tutor for each student, and our mission is to go beyond the specific doubts that each student has, making sure that each tutor can offer its best contribution to each student’s journey,” explains Raphael. Since its foundation, the edtech has received investments from strategic investors, including the Wharton Alumni Angels group.
The startup’s success in Brazil is due to the company’s new positioning during the pandemic, which is no longer a solution just for students, but an auxiliary tool for schools. “Even on an emergency basis, many schools have added complementary tools to the teaching plan that help students during remote classes,” comments Coelho.
Now, TutorMundi intends to continue with its expansion plan and increase its market share by 10% over the next five years, impacting 3 million students. “In the coming years, we want to continue our growth within the Brazilian market to reach more students as well as 10% of all Brazilian private schools”, explains Raphael.
The startup also aims to start operations in other Latin American countries and expand the brand across the continent. “The edtech market in Latin America is wide and offers conditions for growth and expansion at a global level,” Raphael comments. We want to increase our penetration in this market and become the number one school tutoring tool in the entire region”, concludes the CEO, who has already received investment from Brazilian, American, and Chinese funds.
Conceived to make students go beyond their potential in education, TutorMundi was born in 2016 and has since become the main school reinforcement app in Latin America. Through online tutoring, the platform connects elementary and high school students to the best universities in the country, without the need to make an appointment at the moment. The startup offers a tutor for each student at the school. TutorMundi has helped more than 70,000 students and counts more than 2,000 tutors, who all go through a rigorous evaluation process.image.gif