Venture fund Runa Capital has invested $5M in the developer of a single electronic education platform for teachers, students and parents Dnevnik.ru. The investments will be spent on the global expansion of the platform, the development of additional services and mobile applications, a version for schools and development of a system of cataloging and distribution of educational content. Runa Capital received a minority share in the project.
According to a source close to the deal, the entire company was valued at tens of millions of dollars. Dnevnik.ru project, launched in 2009, has over 21K schools and more than 4M users in Russia, about 10K schools and 1M people in the Ukraine who use the service. In addition to these two countries, the company plans to launch local versions for Israel, Hungary, Poland, China and the U.S.
The main objective of the project is to automate the interaction between teachers, students and parents. The system combines three modules: distance learning, school workflow management and social network. Users can enjoy e-class registers and students’ e-record books, library of educational literature, online training of test exam, and the ability to participate in largest Olympiads of Russian universities.
The basic functions of Dnevnik.ru are free. According to the founder and CEO of the resource Gabriel Levy, the company earns through additional services (SMS-alert for parents about the progress and attendance, the ability to pay for meals and other school services, integration with tutors search services, distance courses). In addition, we implement special commercial projects of educational subjects with our partners - Microsoft, Siemens, Panasonic, MegaFon, Intel, etc., - Mr. Levy said.
Dnevnik.ru raised $1.7M from Prostor Capital fund last year.