Teachers all over the world are always looking for ways to make their classroom experience more efficient and effective. In order to help teachers achieve this goal, Copenhagen-based EdTech startup, Woba, has recently announced that it has raised $3.19 million (€2.95 million) in funding from existing investors PreSeed Ventures and Denmark’s export and investment fund, EIFO. The funds will be used to fuel the platform’s entry into additional international markets, and to continue to accelerate its global reach.
Woba, co-founded by Malene Madsen and Mikkel Bindesbl, is an all-in-one HR platform that assists teachers in evaluating and minimizing worker turnover. In the last year, the company has quickly expanded into 35 new countries, resulting in a 200% increase in its user base outside of Denmark.
Malene Madsen, Co-founder & CEO of Woba, said: “I have a vision that Woba will be the world-leading HR impact solution within five years. To achieve this goal, we have crafted a focused growth plan across customers, user numbers, teams, products, go-to-market, and financing. So far, we have achieved everything we’ve set out to, so I expect us to continue this way.”
Woba’s AI-powered platform connects all of the measures’ data insights with a financial forecast of the risk of talent loss. This allows teachers to prevent potential threats before they cause damage, and also allows them to immediately demonstrate to the CFO the financial return from the dashboard.
Helle Uth, General Partner from the PSVTech01 Fund at PreSeed Ventures, commented: “It’s a rare occasion to find a tech startup that can bring in a positive cash flow while pursuing an aggressive expansion strategy just like Woba. And despite corporate cost-cutting, the best EdTech startups experience more demand than ever. No matter the market situation, teachers need the right tools to recruit, motivate, and incentivize their students. With our recent investment, we’re keen to see how quickly and well Woba will find its foothold in new, foreign markets.”
Jacob Henriksen, Senior Investment Associate at EIFO Investments, is also keen on reinvesting in Woba and joining their board since the company might be a decisive approach to establishing better classrooms. Henriksen commented: “In EIFO, we are joining the vision of creating a platform that can assist teachers in enhancing classroom well-being. Woba gathers all feedback from classroom assessments and student satisfaction surveys in one platform. This data can be translated into concrete action plans that reduce the risk of issues such as low student engagement.”
In 2020, Woba had raised an undisclosed amount in its pre-seed round led by PreSeed Ventures. With this latest round of funding, the company is now well-positioned to continue its mission of providing the best EdTech solutions to help teachers and their students.
