Clevers announced on the 27th that it has signed a new license agreement to export CMS math curriculum and textbook IP to Vuihoc, a local education company in Vietnam. With this, Clevers has achieved its second success in exporting its own intellectual property (IP) to Vietnam in 2024.
In mid-June, Clevers had signed an export contract for English curricula such as Cheongdam Language Academy and April with the Vietnamese company Kienguru. With the additional contract with Vuihoc, Clevers will export not only English but also math, further strengthening its market dominance in Vietnam.
Vuihoc, established in Vietnam in 2019, is an edutech company that has been rapidly growing by achieving more than double annual sales growth through its online live education programs. As of the end of 2023, Vuihoc recorded 180,000 enrolled students.
Recognizing this high growth, Vuihoc attracted Series A investment worth 8.5 billion KRW from venture capitalists (VCs) in 2023. It is on the verge of successfully raising Series B investment in 2024. Vuihoc signed the contract with Clevers, which has a proven track record of success in Vietnam, while planning to strengthen online educational content and enter the offline private education market in 2024.
Meanwhile, Clevers plans to start classes for lower elementary school students at offline academies in the Hanoi area in cooperation with Vuihoc within this month, and classes will be conducted not only throughout Vietnam but also on Vuihoc’s existing online live platform.
Lee Dong-hoon, CEO of Clevers, said, “Vietnam’s birth rate remains high, making it an attractive market for Clevers’ future growth. As the online education market is expanding in Vietnam just as it is domestically, collaboration with Vuihoc, which already has 180,000 online enrolled students, will be a great opportunity to overcome regional limitations.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
