Our continued investment in Futura
May 7th, 2024
From left to right: Lorenzo Pinto (Co-Founder & CTO); Andrea Chirolli (Co-Founder & CEO); Francesco Salvatore (Co-Founder & CPO); Remko Wiesman (COO)
We are excited to share that United Ventures has once again partnered with Futura and joined their €14 million Series A funding round. Futura, our portfolio company, has successfully raised the largest EdTech round in Italy, led by French investor Eurazeo and joined by Spanish Axon Partners Group. As a follow-up to our Seed investment in 2022, we are doubling down on our commitment to Futura’s mission of making high-quality education affordable and accessible for all students.
Founded in 2020 by Andrea Chirolli, Francesco Salvatore, and Lorenzo Pinto, Futura aims to address the inefficiencies in traditional education. The company has developed an adaptive learning platform that uses AI to create tailored study plans and simulations based on each student’s unique data profile and needs. Since our initial investment, Futura has made impressive progress in achieving their goals, and we are excited to support them as they continue to revolutionize the EdTech landscape.
The modern school system’s “one-size-fits-all” approach often fails to maximize students’ individual learning potential. High-quality education remains expensive and inaccessible for many, with standardized curriculums and limited high-quality content and instructors. Standardized testing further exacerbates educational inequalities, reflecting parents’ financial investment in preparation rather than a student’s true capabilities. In response, students and families seek supplementary educational support, which often only partially addresses the core issues due to the high cost and low personalization of private tutors and prep courses.
Futura’s platform stands out in the market due to its unique features. It offers personalized, high-quality tutoring at an affordable price, a combination that is hard to find. The platform’s tech-driven approach begins with a comprehensive test simulation to assess a student’s current level accurately. It then creates a tailor-made study program dynamically adjusted by AI to match the student’s evolving knowledge base. Futura’s system motivates continuous engagement and improvement, offering predictions of test outcomes and modifying study recommendations to optimize chances of success. This approach ensures that each student is prepared to pass and equipped to excel, transforming the traditional educational experience into a more effective, personalized journey.
Futura’s technology-driven approach has proven to be highly effective. It has resulted in a 3.5x higher chance of students passing exams, a significant improvement. With an extremely high customer satisfaction rate and a rapidly growing community, Futura’s solution is clearly resonating with students. The top 5% of students even become tutors, contributing to a robust ecosystem focused on educational excellence.
This focus on creating a supportive workplace culture has been critical to Futura’s success. Their team members’ diverse backgrounds and experiences contribute to a dynamic and innovative work environment, fostering continuous improvement and groundbreaking solutions in educational technology. In the words of CEO Andrea Chirolli,
“We have a strong proven track-record on growth, but what really counts are our people. We set a different standard, and this is what drives our success. Why I love working at Futura: we have a very high bar, and we’re kind with each other. I strongly believe these two go hand in hand, and this is what makes us attract top talents.”
The €14 million investment will serve as a catalyst for Futura’s expansion plans. It will enable the company to accelerate its entry into new EU markets and broaden its product offerings. With strategic plans for geographic market expansion and vertical diversification, Futura is well-positioned to lead the charge in the new era of EdTech, making education more personalized, efficient, and accessible to all.
As a continued partner to the Futura team, we’re excited to support Andrea, Francesco, Lorenzo, and their team as they leverage AI to bring personalized, high-quality tutoring to any home at an affordable price. The future of education is bright, and we believe Futura is at the forefront of this exciting new era.
Ps If you want to join the team, they’re hiring! Check out their website: www.futura.study
