FOCUS ON TEACHER'S EXPERIENCE: Teachable, the online platform where teachers can create and sell online courses, has closed a $2.5 million seed round. The investment was led by Accomplice Ventures and joined by Naval Ravikant and Learn Capital.
Founded in 2014, the New York-based startup aims to create a platform that make it easy for students to create and sell courses. It operates on a freemium model, where instructors can choose from four plans that range from 0 to $ 299 per month.
The more expansive the plan, the more features the user gets. Among the features available are quizzing and discussion forums (for all plans) and instant payouts, integration with third-party sites and advanced customization (for the paid ones).
The company reports that, on average, teachers make over $5,000 per course. But some make much more: Bitfountain, a provider of courses on iOS development, made more than $ 1 million with their video classes. Mariah Coz of Femtrepreneur, made $450K on her recent course about social entrepreneurship.
Teachable claims a monthly growth rate of over 20 percent for the past 12 months, increasing its revenue tenfold in one year. The startup also says that they have surpassed the mark of 1 million students last January and over 700,000 videos have been uploaded to the platform to date.