MANILA, Philippines — Educational technology startup company Edukasyon.ph on Tuesday, May 8 said that it has raised an undisclosed amount of investment in a pre-Series A funding round financed by KSR Ventures and French Partners, prior to its proposed Series A funding in the fourth quarter of 2018. According to Edukasyon, it will use the newly granted funds for the startup company to further expand in the country and add new positions in the market.
Edukasyon.ph is also seeking to integrate data science for its growing user base. Edukasyon.ph, which was founded three-years ago, claims to connect more than 1 million students each month to more than 10,000 academic institutions both domestic and international. The startup firm intends to cater more than 50 million students in the Southeast Asian region by 2020.
In a press statement, Edukasyon founder and CEO Henry Motte-Muñoz claimed that platform guides students throughout their schooling, and ultimately career by giving them a selections of options, advice, and convenience.
“We’re excited about this opportunity as it allows us to develop our product for our existing users, utilize data science to bring in new users while expanding to areas in the Philippines where students need us the most,” Motte-Muñoz said.
The fresh pre-Series A funding round followed Edukasyon’s seed financing round back in December 2016, which was led by United Kingdom-headquartered impact fund Mustard Seed and funded by other impact funds, family offices, and angel investors.
“We fervently believe our platform has a key role to play in empowering millions of ASEAN students to choose the right education and enabling them to further improve their economic potential,” the founder and CEO added.
The data provided by Edukasyon suggests that higher education in the Southeast Asian region is fragmented with over 20,000 educational institutions for students to opt from. “Despite tuition revenues growing 7 to 10 per cent year-on-year, the system is fundamentally inefficient with less than 40 percent of students choosing to engage in higher education, leading to the high 30 per cent youth unemployment / underemployment rate in the region,” the company stated.
Katrina Razon, the founder of KSR Ventures and one of the aforementioned startup’s latest investors, said an education-to-employment platform, like Edukasyon.ph, “can solve the discovery system’s pain points for students and schools alike.”
Katrina Razon is the daughter of Filipino business magnate and the Chairman and CEO of the publicly-listed company International Container Terminal Services, Inc., — the Philippine port-handling giant.
The younger Razon is a Filipina DJ and just recently, she was even invited to speak at Forbes’ Under 30 Summit. — The Centrio News