Global funding for online education companies fell to US$3 billion in 2024 from its peak of US$17.3 billion in 2021, according to PitchBook data. It’s the least amount of money invested in the industry since 2014, when companies raised US$2.3 billion. (Financial Times)
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Global funding for online education companies fell to US$3 billion in 2024 from its peak of US$17.3 billion in 2021, according to PitchBook data. It’s the least amount of money invested in the industry since 2014, when companies raised US$2.3 billion. (Financial Times)
Talking point: After mass adoption of services like online tutoring and exam prep during COVID-19, many edtech firms have struggled to maintain subscribers as students returned to the classroom. The rise of generative AI as an education tool has also disrupted the edtech space and curbed demand. Canadian edtech startups haven’t been immune from the sector’s ups and downs. Montreal-based online tutoring firm Paper cut 45 per cent of its head office workers and replaced its longtime CEO Philip Cutler in August.
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