Peruvian technology startup Crehana has raised US4.5 million from venture capital funds led Acumen Capital, saying it has planned to expand operations throughout Latin America.
The startup, which offers online courses for students wanting to pursue education in digital industries, says it would also use the proceeds for doubling its workforce and developing new content.
Other investors backing the startup include Dila Capital, Mountain Nazca Mexico, Rethink Education and Howzat Partners.
Analysts say the fresh inflow of funds will help the company consolidate its presence in Peru, as well as accelerate its expansion in Mexico and Colombia.
“This investment is perfect for us, because it is totally aligned to our growth strategy. We want to strengthen our position within Mexico and this injection of capital will serve as a support to expand coverage in that market, “said Diego Olcese, CEO of Crehana, according to Peruvian news portal Expreso.
For Crehana, founded in 2013, this is the fourth round of fundraising. Report say it has raised US$6.2 million so far.
Diego Olcese founded Crehana along with Rodolfo Dañino with an aim of giving students access to quality education through internet. It came to limelight in 2015 when Wayra, Latin American startup accelerator, agreed to invest US$50,000 in it.
Olcese attributes the company’s success to Wayra, saying it supported it initially and kept on introducing it to more investors.
Crehana offers more than 500 courses in Spanish on varieties of subjects including digital marketing, 3D animation, photography, and illustration.
More than 650,000 students in over 20 countries have signed up to its service.