Masterplace, an innovative edtech startup, has successfully raised $2 million in a seed round to launch its AI-enhanced educational platform. The platform is designed to offer a wide range of content for students and streamline course creation for mentors. This initiative simplifies student tracking and evaluation, making the educational experience more efficient and effective.
The concept of Masterplace aligns with trends observed in recent years, where online education platforms have gained significant traction, especially since the onset of the pandemic. Previous reports highlighted the growing importance of digital education, with numerous professionals and educators leveraging platforms like YouTube and TikTok to disseminate knowledge. The global online education market has seen substantial growth, underlining the relevance of Masterplace’s mission.
The newly acquired funding, supported by business angels and founder Ilya Rouss, aims to develop a user-friendly platform. This platform will cater to aspiring teachers without prior experience and students without formal qualifications who are looking to bolster their skills or transition into new careers.
Blockchain for Intellectual Property Rights
Masterplace employs blockchain technology to secure the intellectual property rights of both educators and students. Every piece of educational content generated on the platform becomes part of a blockchain, ensuring a secure and transparent accumulation of knowledge. This non-fungible record aims to establish Masterplace sessions and content as recognized bibliographic references for future academic work.
“Masterplace was born in response to the needs of content creators, helping them create and monetize their courses, when we noticed that only 10% of online course enrollees actually complete them. Therefore, we decided to create a structure that not only helps content creators save time and effort in course development but also provides incentives for users to successfully complete the courses they purchase,” commented Ilya Rouss, CEO and founder of Masterplace.
AI Co-Pilot Avatar for Course Development
Masterplace was established by a seasoned team of business and educational professionals, including Ilya Rouss, a serial entrepreneur with 15 years of experience in technological projects and marketing. The platform features an AI-generated co-pilot avatar that assists educators in structuring and creating course content. This AI tool also helps students navigate the material based on their individual needs, aiming to maximize knowledge transfer and support both educators and learners throughout the educational process.
The distance education sector has grown significantly, particularly since the pandemic. As the market for online education platforms is projected to reach $112.3 million, Masterplace is poised to contribute to this growth by offering a robust and innovative solution. The platform’s unique features, such as blockchain integration and AI assistance, position it as a forward-thinking player in the edtech space.
Masterplace’s approach addresses both the challenges faced by content creators and the needs of learners. By integrating advanced technologies and secure records of educational content, Masterplace aims to revolutionize the online education sector. Its focus on maximizing course completion rates and ensuring high-quality content delivery makes it a promising platform for future educational endeavors.
