WritePath raises US$ 525,000 seed funding to speed up global expansion
WritePath PTE Ltd., a holding company that operates websites across different editing niches, e.g. college admissions, technical writing and academic research, announced the successful completion of its $525,000 USD capital seed round led by renowned B Dash Ventures from Japan. WritePath’s goal is to become the world’s premier vertically integrated editing and translation service provider.
Singapore 06/03/2014 – Writepath (www.writepathinc.com) has announced that it has completed a US$525,000 seed round from a syndicate of leading investors from the Asia Pacific region. The round was led by B Dash Ventures of Japan. Joining the syndicate are Pinehurst Advisors of Taiwan, Jamie Lin of AppWorks, Jackie Chang of GogoLook (acquired by Line), Bernard Chan (former Entrepreneur in Residence at TMI and founder of AlphaCamp), and other angel investors. Writepath intends to use the financing to set-up offices in Japan, Korea and the U.S.
WritePath Pte Ltd. is a Singapore-based company that operates Topadmit.com, Topsciedit.com, and Bizeditors.com, three online editing services that span the college admissions, academic research and enterprise verticals. WritePath was the winner of the Echelon 2013 Tokyo Satellite, a 2013 Echelon finalist and an AAMA (Asia America MultiTechnology Association) company, a highly-recognized start-up award in Taiwan.
WritePath’s first site, TopAdmit.com, was founded in 2009 to help students connect to high-caliber admissions essay editors. Since that time, the site has grown rapidly. In the 2013-2014 admission cycle, the site saw orders from 22 countries and revenue grow 50%. Seeing the success of its first site, WritePath has leveraged the same technology platform and business model from TopAdmit and applied them to the academic research community via topsciedit.com and the millions of SMEs that need to do business internationally via bizeditors.com. WritePath matches highly experienced editors who are highly-trained across management, academia, engineering and other specialized disciplines with the needs of its clients.
WritePath’s business model is widely appreciated by both customers and investors. The company regularly receives orders from China, India, Taiwan, South Korea, Japan, Saudi Arabia, and the Ukraine. Its new Topsciedit.com product reaches new customers in the fields of scientific research and medicine while Bizeditors.com, which offers an API and a subscription plan for enterprise customers, is quickly winning over companies who have been frustrated by the lack of quality in the highly fragmented, mom and pop translation industry. Topsciedit.com has already served more than 300 researchers and doctors and has also signed long-term contracts with research institutes around the globe. Less than a year after launch, Bizeditors.com now serves 190 well-known multinational corporations in the electronics industry to meet their editing, copywriting, and translation needs. Both ventures have improved WritePath’s scalability and excited investors based on the traction the company is getting.
“WritePath has a tail wind to its back,” explained Mark Hsu, General Partner at Pinehurst Advsiors, whose firm first seeded the company in 2009 and is anteing up its bet this round as well, “The study abroad market globally is growing 8% annually and in many of the markets that WritePath is making strong inroads into, such as Vietnam, year-over-year growth is at 40%. The combination of scale and a rising market means that WritePath is well-positioned for accelerated growth.”
“WritePath is not only a play on technology,” remarkedCEO Hiroyuki Watanabe of B Dash Ventures, “but a play on the rise of emerging markets such as Southeast Asia, MENA (Middle East North Africa) and India. We like the fact that many of the markets that WritePath is playing in are growing at 8 to 9% a year.”
When asked what was his secret sauce in winning over such an acclaimed roster of investors that is essentially the who’s who of the angel investor community in Taiwan, Founder & CEO Charles Chin of WritePath simply explained, “Profits! I think investors were encouraged to see a start-up that was not in perennial beta but had already built a service, was profitable and focusing on the blocking and tackling of building a business.” CTO Stefan Schneider, who joined WritePath 18 months ago, and who himself had left his native Germany to move to Taiwan about 7 years ago, added that he was attracted to the then four year old start-up because “Charles was solving a real problem that was plaguing all non-native speakers of English, which by the way, makes up the vast majority of the 7 billion people on earth.”
About B Dash Ventures:
B Dash Ventures is a leading early-stage Japanese venture capital firm headed by CEO Hiroyuki Watanabe. B Dash has been a pioneer among Japanese venture capital firms, investing aggressively outside of Japan.
About Pinehurst Advisors:
Pinehurst Advisors is headed up by General Partners Mark Hsu and Kevin Chen. To date they have made a total of 10 investments in Taiwan and 2 investments in Singapore. They are widely known within the Taiwan start-up community to encourage Taiwanese start-ups to globalize from day one.