Global investment in online education companies has fallen to its lowest level in a decade as the industry comes under pressure from the rapid rise of free generative artificial intelligence tools that are undercutting their products.
Edtech businesses, which offer services such as online tutoring and exam practice, received just $3bn of investment in 2024, compared with $17.3bn at the peak of the pandemic in 2021, according to data from PitchBook. This is the smallest amount since 2014, when edtech companies attracted $2.3bn.
The huge decline comes as edtech companies, which soared in popularity during the pandemic amid mass school closures, have struggled to maintain subscriber growth after the end of the Covid-19 emergency.
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