Contxto – Peruvian online education startup Crehana recently raised US$4.5 million to continue transforming creative and digital industries in Latin America.
Acumen Capital led the investment round with participation from other Latin American funds, specifically Mountain Nazca Mexico and Dila Capital. Previous backers, Rethink Education and Howzat Partners, also joined the investment.
New resources are expected to expand course offerings for creative professionals. Plus, additional capital will help the company develop new products and solidify holdings in Mexico, Peru
We are very happy to partner with the Crehana team. They are solving a big problem in Latin America that is the access to quality education through technology.Santiago Álvarez, Acumen Capita’s investment director.
Who is Crehana?
Founded by CEO Diego Olcese and partner Rodolfo Dañino in 2015, so far the company has raised US$6.2 million of risk capital during three investment rounds. At the same time, Crehana has attracted over 650,000 students from over 20 countries determined to work in digital or creative industries.
“We will use more than 50 percent of the capital to grow our brand presence in the primary markets where we operate,” said CEO Diego Olcese, who wants to double the size of the business team by the end of 2019 as well as invest in content development.
“We are seeking to transform the learning experience by betting a lot on the production and personalization of our content.”Diego Olcese, Crehana’s CEO
The new capital will also increase the development of the company’s corporate line involving one-of-a-kind courses. Popular classes range from SEO to digital marketing, in addition to certificates for WordPress or Adobe programs. Certain graduates have allegedly raised their income by 36 percent in addition to landing new careers.
“We want to customize what we have already constructed for the final consumer and start to help companies that construct effective training programs,” said Olcese.
Why are creative industries important for Latin America?
Creative industries can propel economies to new heights. Nowadays, they are essential to a country’s economic growth, especially in terms of innovation. Not only do they promote job growth and empower talented individuals. Ultimately, creative industries improve education systems while encouraging sustainable development.
According to the World Economic Forum, Latin America is in a novel position to take advantage of the growing demand for creative economic sectors.
What does Latin have going for it?
Latin America already has some advantages. First off, the region embodies distinctive cultural identities. As goods or services inevitably become commodities, regional players can showcase their rich heritage in terms of the music, publishing, architecture or design they produce.
Also, Latin America has a vibrant entrepreneurial culture full of innovative thinkers, co-working spaces, young companies, etc. The fact of the matter is that innovation is essential to stimulating economic growth, which is something that Latin American enterprises have covered.
Even more, the region is one of the youngest in the world with an emerging middle class. With so many youths working for multinational companies or launching their own startups, it’s apparent that Latin American businesses are maturing.
Safe to say that the more education one possesses, the more talent one has to offer, regardless of the industry. Let’s see how Crehana goes about eliminating educational barriers in Latin America by empowering citizens to pursue their professional dreams.