In a remarkable feat, the innovative EdTech startup NativeX has successfully secured a total of $4 million in funding within just 8 months of its inception. NativeX initially raised $1.5 million from angel investors through SAFE instruments in June 2023 and has now concluded its seed round by securing an additional $2.5 million. This round is co-led by Ansible Ventures and Blueprint Ventures, with participation from Northstar Ventures and other investors. With this substantial funding, NativeX is poised to advance its mission of transforming English learning for 10 million busy working professionals in Vietnam, before expanding into other Southeast Asian markets.
NativeX holds the belief that English proficiency is essential for unleashing the career opportunities of working professionals, especially for local tech talents aspiring to excel in the global tech job market. Established in April 2023, NativeX is dedicated to revolutionizing the English learning experience for working adults in Vietnam through its inclusive online platform. This platform features live classes conducted by seasoned foreign instructors and offers flexible scheduling options tailored to the demanding lifestyles of working professionals.
One of the notable aspects of NativeX is its inventive and adaptable group class model, enabling learners to schedule classes according to their convenience. This model fosters a collaborative and encouraging learning atmosphere by grouping individuals with comparable proficiency levels, a strategy that has demonstrated effectiveness. Ms. Ai Chau, Co-Founder and Head of the Academic team, emphasizes the company's distinctive content-driven approach to curriculum development and learning experiences, guaranteeing scalability and uniformity in teaching quality as they expand.
In its inaugural year, NativeX has achieved significant milestones, with learners reporting significant enhancements in their English communication skills. The platform attracts a diverse array of learners, encompassing 50% of professionals and managers across various sectors such as IT, healthcare, marketing, and business. NativeX's growth has been propelled by its commitment to continuous learning and adaptation, rooted in user feedback and market dynamics. Trang Ly, Co-founder and Head of Growth and Engagement, proudly notes that 75% of Monthly Active Users (MAU) remain engaged on the platform even after 7 months, dedicating approximately 12-15 hours per month to English learning. Furthermore, the platform has earned the trust of its user base, evident in its notably high average order value, which is 2-3 times greater than the EdTech industry average in Vietnam.
As Vietnam continues to emerge as a sought-after outsourcing destination for multinational corporations, driven by its youthful demographics and political stability, the demand for proficient English speakers is expected to rise. This shift will likely result in the creation of numerous higher-paying jobs, necessitating an elevated level of English proficiency to uphold business quality and efficiency standards. In addition to aiding the local workforce in seizing enhanced employment prospects in the FMCG and Services sectors, NativeX intends to forge close partnerships with IT engineers. Through this collaboration, the company aims to cultivate an ecosystem that nurtures their success in the global IT outsourcing market.
