Singapore-based editing services startup WritePath raised a $525k Seed Round led by B Dash Ventures with participation of Pinehurst Advisors and a group of angel investors.
The funding will be used to set up offices in Japan, South Korea and the US.
WritePath’s goal is to become the world’s premier vertically integrated editing and translation service provider. The startup currently runs three services in the editing and translation space: TopAdmit offers editing services for university applicants, TopSCIedit the editing of academic research papers and BizEditors offers editing services to small business owners.
WritePath’s customer come mainly from China, India, Taiwan, South Korea, Japan, Saudi Arabia and the Ukraine. According to e27, the offices in Japan and South Korea are necessary to set up legal entities in order to collect payments from those countries as global services like PayPal are not broadly used over there.
“WritePath is not only a play on technology but a play on the rise of emerging markets such as Southeast Asia, MENA (Middle East North Africa) and India. We like the fact that many of the markets that WritePath is playing in are growing at 8 to 9% a year.”
states Hiroyuki Watanabe of B Dash Ventures.
The founder Charles Chin also told e27 that WritePath has been profitable for the first two years since launch but was in the red in 2013 due to investments in growth and the gain of market-share. Chin expects to break even by the end of this year.
“I think investors were encouraged to see a start-up that was not in perennial beta but had already built a service, was profitable and focusing on the blocking and tackling of building a business.”
Chin states in the press release.
Founded in 2009 TopAdmit received orders from 22 countries in the 2013-2014 admission cycle and saw growth of 22% according to TechCrunch. While competitors like EssayEdge are focusing on clients in the U.S. and U.K., TopAdmit builds out its platform to cater to growing markets in Asia, especially China, Japan and South Korea.
“The study abroad market globally is growing 8% annually and in many of the markets that WritePath is making strong inroads into, such as Vietnam, year-over-year growth is at 40%. The combination of scale and a rising market means that WritePath is well-positioned for accelerated growth.”
states Mark Hsu, General Partner at Pinehurst Advisors in the press release.
TopSCIedit is used by over 300 researchers and also has signed long term contracts with research institutes. The latest service BizEditors is already in use in 190 multinational companies. Its main competitor is Gengo which just announced a milestone of 200 million translated words on its own. BizEditors sets its focus on the Chinese market, offering translation and editing services from Chinese into all other languages Chin told TechCrunch.
Shanghai-based ChaseFuture, another edtech startup that targets the college admission vertical by offering college and grad school applicants personalized admissions consulting, recently raised a $400k Seed Round. easyuni, a search engine and review site for colleges and universities based in Kuala Lumpur signed a partnership with Yahoo Malaysia to provide a dedicated education channel on the country’s Yahoo News portal.
- WritePath raises US$ 525,000 seed funding to speed up global expansion | WritePath
- [Updated] Singapore’s WritePath secures US$525K led by B Dash Ventures | e27
- Editing Services Startup WritePath Nabs $525,000 In Seed Funding | TechCrunch
- HEDLINE: ChaseFuture raises $400k Seed Round | EDUKWEST
- EdTech Startups Asia: easyuni, MyBusMate, SchoolofTutors and Mettl | EDUKWEST