Inventure Partners invests in Netology series-A

The capital injection marks the first round of external funding for Netology, having previously relied on investments made by the company's founders.

The funding will allow Netology to accelerate product development. The company plans to have more than 100 interactive courses available on its online platform by the end of 2014. There are currently 30 courses available.

The company will also launch the mobile version of its platform with the funding supplied by Inventure.

Company
Founded in 2011 and headquartered in Moscow, Netology operates an online education platform that provides interactive video courses.

According to the company, its services appeal to the number of Russian citizens living in remote regions of the country.

The company also points out that the number of Russian internet users is increasing at a steady pace. Around 66.5 million Russians, or 57% of the country's adult population, now use the internet on a monthly basis, according to Netology.

The company generates revenues via a monthly subscription model for its content, and claims that revenues tripled over 2013.

People
Maxim Spiridonov is the CEO of Netology. Sergey Azatyan is a managing partner at Inventure.

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• Topics
• Expansion
• CEE
• Consumer
• Russia