Sesame Ventures, the venture fund formed by Sesame Workshop and New York-based Collaborative Fund in May, has made its first investment in a tutoring platform called Yup.
Specifically, Yup (formerly known as MathCrunch) has raised $4 million in a seed extension round led by Sesame Ventures, bringing the companyâs total capital raised to date to $7.5 million.
Yup connects students with tutors online, through its website, native iOS and Android apps. The startup is specifically focused on math and science education at this time.Â Its service targets students who are 13 years old and up, and tackles STEM subject matter from high school through university.
When students first open Yup, a bot briefly interviews them to ascertain what subject matter and level of tutoring help they need, and then to match them with an ideal tutor. Then they are directly connected to a tutor for homework andÂ exam prep help, via direct messaging.
In the U.S. market alone, online tutoring services abound, including Chegg, CourseHero, eNotes, GotIt, InstaEDU, Varsity Tutors, Wyzant, and Tutor.comÂ Yup CEO and founder Naguib Sawiris said his startup is distinct from these, in part, because its sessions are peer reviewed.
Most platforms take ratings from customers into consideration, meaning students or parents that purchased a tutoring session for them. But on the Yup platform, tutoring sessions are recorded and evaluated within 48 hours, anonymously, by other experienced tutors.
A reviewer gives feedback to Yup about how well a teaching tutor was able to guide a student to understand concepts in any given session. This peer review method is part of what ensures tutors on the Yup platform do not merely hand out homework answers in a subject students may be grappling with.
âWe hold our tutors accountable to actual learning. There are too many cheat sites out there that just give students the answers and donât care about learning,â SawirisÂ said.
As a condition of raising this capital from Sesame Ventures, Yup committed to developing and selling services to charter schools and districts, who can distribute online tutoring help to students who need it, but whose families canât afford the extracurricular expenditure.
InvestorÂ Craig Shapiro said one reason Sesame Ventures backed Yup is the market opportunity, or demand for this kind of service,Â in the U.S.
âAcross public schools class sizes are larger, teachersâ attention is eroded, and curriculum quality has degraded. But tutoring is still largely happening offline. Itâs like taxis before Uber.Nobody had cracked the nut on how to deliver learning, and not just give away answers online.
Yup is doing this in a way thatâs not just effective, but makes tutoring more affordable and accessible than having a teacher come to your house.Â We consider Yupâs competition to be not the other online players but the fragmented market of offline tutoring services,â the investor said.
EarlierÂ investors in Yupâs seed round included Floodgate and Index Ventures.
Featured Image: Yup.com