Leading Nigerian education technology company uLesson has announced a closure of a $15M Series-B investment from Nielsen Ventures and Tencent, as well as existing investors, Owl Ventures, TLcom Capital, and Founder Collective.
This is the largest investment in an African edtech company that has recorded a daily average user percentage surge of 430% and live lesson demand growth by 222% since their introduction in September.
“We’re thrilled to achieve this major milestone which will take us further in bringing high quality and affordable education to all Africans,” says Sim Shagaya, uLesson CEO.
“We’re delighted to be joined by seasoned investors, like Tencent, who bring a wealth of experience from their investments in education technology. Backed by incredible partners, we can accelerate our learning to serve the African edtech market more effectively,” says Shagaya
With the capital, uLesson plans to continue to invest in product development, strengthen its core technology and add cohort-based learning features.
Expanding on its flagship science and mathematics content, the company will add social sciences and financial accounting to the secondary level content library and qualitative and quantitative reasoning to primary level.
The uLesson app has been downloaded two million times; 12.3m videos have been watched; and 25.6m questions have been answered.
This increase in online learning demand has only accelerated due to the Covid-19 pandemic, leading to enduring behavioral changes among African families.
uLesson is available in Nigeria, Ghana, Sierra Leone, Liberia, The Gambia, Kenya, Uganda, Rwanda, South Africa, US and UK.
Already, uLesson offers a suite of educational products -- a core curriculum video library, live lessons, and live personalized homework help -- that provides holistic learning that is both interactive and tailored to the individual needs of primary and secondary school learners across Africa.
