Memby, the Lithuania-based tutor portal for high schoolers, said it has closed a $1 million financing round led by Change Ventures as it seeks to further develop Memby’s platform and expand its services across Greece and Poland.
The pre-seed round is joined by Brighteye Ventures and the MJJ Foundation, as well as angel investors Justas Janauskas (co-founder of Vinted, Lithuania’s first unicorn) and Martynas Gudonavičius (co-founder and CEO of the mobility platform Trafi), it said.
The startup’s approach to learning relies on live group sessions. Students can ask questions in real time, participate in group discussions and test their knowledge after the class is over. By using tools that continuously test the class participants’ understanding and actively track student engagement, tutors can easily improve their delivery based on the feedback they receive from their groups.
“The problem with most tutoring experiences is the cramming and mechanical memorisation approach, which might help a pupil raise their marks, but only in the short term. In the long term, what a student needs to achieve is motivation, inspiration and guidance. Only a tutor who is passionate about both their subject and teaching itself can turn these lights on.”Eimantas Bekėža, co-founder and CEO of Memby
“Everyone in education is well aware of the need for quality teachers, and we have built a technology that excels at enabling superstar educators and scaling their talents to the biggest stage possible,” he said.
Memby’s first targets for expansion are Greece and Poland, two markets with a very high demand for extracurricular tutoring. Greece, for example, has a larger market for tutoring than Germany, despite having a population eight times smaller. Operations are underway in both countries, with local foundation EdTech Poland chosen as a partner there and a learning lab being built out in Greece for students affected by wildfires afflicting the country.
Memby is currently shoring up its faculty of all-star tutors in both countries and hopes to be fully operational in time for the upcoming school year. Memby also plans on expanding to Italy and Slovakia in the second half of 2022.