Marketplace For Executive Training Courses
Coursalytics is an online marketplace that helps corporate executives find, compare, and book educational courses.
This is a big opportunity. Each year, an estimated 500,000 executives seek to further their skills through corporate development courses.
The average cost of each course is $4,000. With many executives enrolling in multiple classes a year, this represents an estimated $3.6 billion market.
But half of all executives believe development programs they attend aren’t relevant to their business. Meanwhile, even top education program providers sell just 50% to 75% of their seats, resulting in thousands of dollars in missed revenue.
Coursalytics provides a solution with its marketplace for executive education.
The marketplace features 9,000 online and in-person executive-level courses from top providers. Users can search for courses based on criteria like class date, distance from their location, topic, and price. Furthermore, users can get course details including faculty bios, brochures, videos, and recommendations for similar classes.
Coursalytics collects fees from executives who book classes, and retains 10% to 15% as commission. The remaining funds are passed on to the course providers. The company also offers additional services to providers for an added fee.
In 2017, its first year of operation, Coursalytics generated $232,000 in revenue. And in 2018, sales grew more than 150% to $612,000.
In addition to its booking services, Coursalytics’ platform includes a content management system. This system uses natural language processing and indexed algorithms to ensure course information is up to date, and enable past course participants to leave first-hand reviews.
To date, Coursalytics has collected 7,500 reviews, ranging from positive and negative feedback — for example:
One reviewer wrote about a class, saying, “It gave me a very good refresher on strategy and a lot of soft skills. The coaching was great and gave me a path to getting promoted to CFO.”
Another reviewer noted that the course he took “was the worst course I have ever taken… nothing about new organization models… a waste of time.”
These reviews, which could offer an alternative to company-written, marketing-crafted course descriptions, have not been made public to Coursalytics users. However, in the future, the company plans to turn this content into actionable data for executives and course providers.
This data will help Coursalytics more effectively predict and respond to market trends. This will enable the company to better promote relevant courses for executives, and eventually create its own series of educational courses.
In addition, Coursalytics will package and sell this data to course providers, who can use it to develop classes based on executives’ specific career needs.
With these additional revenue streams in the pipeline, Coursalytics projects to grow to an estimated $10 million annual run rate by 2021.
Alex has extensive domain experience in the education industry.
Before starting Coursalytics, he was an adjunct professor at Coursera, an online learning platform offering classes and degree programs. As of 2018, Coursera has more than 33 million users.
For seven years, he was a partner at Capstone Connections, a consulting company focused on advising private businesses on government regulations. He worked in a similar consulting capacity for GlobalSource Partners, a business management company.
Alex was a consultant at the Berkman Center for Internet and Society at Harvard Law School, and was a research assistant at The Fletcher School, the graduate school of International Affairs at Tufts University.
He studied at Harvard and earned a Master’s degree in Law and Diplomacy from Tufts University.
Prior to Coursalytics, Ilya was an adjunct professor at the Moscow Institute of Physics and Technology.
For eight years, he worked with teammate Alex as a partner at Capstone Connections, and spent five years as Managing Director of Talent Equity Ventures, a VC firm focused on technology-based startups.
Ilya is a former member of the Russian Federation Government Expert Council, and previously served as a researcher at Georgetown University’s main library.
He earned a Bachelor’s and Master’s degree from Georgetown University, and earned a Master’s in Education Entrepreneurship from the University of Pennsylvania.
An accelerator founded by notable angel investor Jason Calacanis. This program offers networking and capital to early-stage startups.