Spanish edtech Masterplace raises $2M

Edtech Masterplace, has raised a $2M seed round to launch its AI-powered educational platform. This platform offers  content for students and empowers mentors to effortlessly create courses and content while simplifying student tracking and evaluation.

The funding, backed by a group of business angels and founder Ilya Rouss, will be used to develop a platform for individuals looking to start a teaching career without prior experience, as well as for students without formal qualifications seeking to enhance their skills or change careers.

All educational content generated on Masterplace is part of a blockchain, promoting the accumulation of knowledge while ensuring the intellectual property rights of both teachers and students. With this unique non-fungible record, Masterplace aims to establish its sessions and content as accepted bibliographic references for future academic work.

"Masterplace was born in response to the needs of content creators, helping them create and monetize their courses, when we noticed that only 10% of online course enrollees actually complete them. Therefore, we decided to create a structure that not only helps content creators save time and effort in course development but also provides incentives for users to successfully complete the courses they purchase," commented Ilya Rouss, CEO and founder of Masterplace.

Masterplace was founded by a team of seasoned business and educational professionals, including Ilya Rouss, a serial entrepreneur with 15 years of experience in technological projects and marketing, who has managed campaigns and pro-athlete sponsorships for renowned brands such as Eurasian Bank, Red Bull, and Yamaha. While creating and building a course can be time-consuming and challenging, Masterplace supports teachers with an AI-generated co-pilot avatar, which assists in structuring and creating course content and helps students navigate the content based on their individual needs and context. As a result, Masterplace aims not only to offer top-quality content but also to support both educators and learners throughout the educational experience to maximize knowledge transfer.

The distance education sector has grown significantly in recent years, particularly since the pandemic, driven by an increasing number of educational content creators across various platforms, from YouTube and TikTok channels to professionals offering tailored courses. This growth is expected to continue, with the global market for online education platforms projected to reach 112.3 million.