Cudy is looking to disrupt the education world with the launch of their platform that connects freelance tutors to students. With an undisclosed six-figure investment from strategic investors, this one-year old company might be on to something.
Started by Singaporean Alexander Lim, who is only 23 and an university dropout, the startup is looking to cash in on the tuition-loving Singaporean population. With over 500 tutors already signed, they look to have already built a strong base on which to expand.
We spoke to Nuha Ghouse about her tuition platform Tutopiya and how they are changing tuition in Singapore
We spoke to Alexander to find out his plans and how he hopes to bring Cudy to the next level.
When he’s not in the office, you might find Alexander learning more about the world or indulging in his passion for driving fast cars.
Read more about his story below.
Sell us your company/service in 300 words?
Cudy, a Singapore-based platform for online tuition is set to disrupt the $1.1 billion tuition industry by offering a new online tuition service. Launched in 2018, the one-year-old startup has just this week raised an undisclosed six-figure sum in a seed from strategic investors. With this encouraging sign, Cudy is ready to step up. Not only have they already attracted 500 freelance tutors to sign up since their launch, they have also partnered with tuition centres around the island to provide real-time online tuition classes on the platform, with plans to launch new services in 2019.
Touching on shifting attitudes from traditional enrichment classes to tuition on a web browser, Cudy optimistically shares their insight on how the education environment has evolved. Their platform will provide an easier, faster, and cheaper solution. Here in tuition nation, 7 of 10 Singaporean parents send their children for tuition. Cudy sees this vast and growing market as an opportunity democratize education. In a recent issue raised in the Singaporean parliament, families from a lower socio economic background face an unequal access to enrichment classes, leading in a potential disparity between students’ performance. Due to the high and ever-increasing costs of such supplementary classes, Cudy aims to empower and bridge the gap for parents to sustainably provide the best tuition classes for their children without experiencing a detrimental dent to their pockets.
In addition, by allowing individual freelance tutors to create their personal branding as a qualified tutor, Cudy is also empowering tutors to scale their teaching businesses online. This allows tutors to preserve content and deliver the quality of classes students are familiar with while attending face-to-face tuition classes. Both parties will not have to worry about disputes or payment issues anymore as we have an escrow system to provide the trust that is required for the exchange of services, protecting both parties so that they can focus on learning with ease of mind.
What is stopping you from having the largest company in the world?
Our current focus is on growing our operations in Singapore, to be not just part of the matured tuition industry, but to also shape it according to how students and tutors of today want it to be. We pride ourselves in our commitment to take time to understand each and every market which we have an interest in, in order to value-add to the different markets and not be perceived as only a fad. We want to establish ourselves in the region to democratize the access to quality education for the students of the region to create more opportunities for students to improve themselves as we have a long-term view that education is a social enabler and technology is its catalyst. We don’t plan to grow too fast, as we plan to stay for the long-term, with the goal of benefitting as many students as possible.
If you could change one thing about the tech industry in Southeast Asia, what would it be?
In Singapore, I never felt that newer technology has a huge impact on our daily lives, as it has always been on the forefront of adopting new technologies in the pursuit for efficiency. However, having been to other cities in Malaysia and Indonesia, I’ve seen tremendous impacts and new opportunities created by the tech industry, the largest would be on-demand services that powers the gig-economy of Grab and Go-Jek drivers. Everything just became so much more convenient, efficient, cheaper and connected. The one thing that I would change about the industry is the perception that tech is bad because it disrupts businesses and the workforce. I think tech benefits the end consumers the most with lower prices and convenience, and it is the technology that is the backbone of all the services that we very much enjoy and take for granted today. Tech that enables communication and connectivity are the most important today, in my opinion, which is why Cudy is positioned to have a tremendous impact in the region, being an education and technology company.
Name one person in the region, who is making a difference in Technology?
I’ve personally met many entrepreneurs who are leading many large tech companies in the region. One person would probably be Anthony Tan of Grab. He has pivoted Grab into soon becoming a financial service provider in South-East Asia, and has managed to utilize tech to change the way that we commute and live, from the roads to how we choose to pay for our goods at retail stores or delivery services. It’s truly amazing how you still can see him on the streets on shorts and keeps himself humble given his success.
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What would you want people to remember you for, 100 years from now?
I would want people to remember the company for its positive impact on society as a whole, instead of just one person of the company. It’s true that some companies need a face that they can relate to, someone from the company that inspires and cultivates a following that is channeled to the company, and I choose to believe that it’s a strategic reason for companies to do so. I would want the company to be remembered as the company that has made the difference in helping students in need during the inflection point of our evolving education system, to be the change catalyst and invite a socially accepted new way of learning.