Manila-based education technology startup Edukasyon.ph has raised an undisclosed amount of financing in a Series A round from a number of Asian and European investors.
The investors in the funding round include EduLab Capital Partners, Obunsha Ventures, Alternate Ventures, Foxmont Capital Partners, Lorinet Foundation, French Partners, First Asia Venture Capital, and KSR Ventures.
Founded in 2015, Edukasyon offers access to senior high schools, colleges and universities, scholarships, online courses, and other resources to students and youth in Philippines. It aims to empower Filipino youth to make self-aware education decisions that lead to a fulfilling career and life. The startup has developed partnership with more than 500 educational institutions and 50 corporations and foundations, and over the years it has expanded its content offering through multimedia channels and campaign partnerships with leading corporations to engage Gen Z at scale. This year, it established a nationwide presence by launching offices in Cebu and Davao. Edukasyon now claims to draw 10 million annual visitors to its platform.
The latest funding comes more than a year after Edukasyon raised an undisclosed amount in Pre-Series A funding round backed by KSR Ventures and French Partners in May 2018. The startup also secured an investment from the Gobi-Core Philippine Fund in early 2019.
Edukasyon plans to use the latest funds to unveil new platform features and strengthen its network of partners from all sectors across the country.
Speaking on the funding it received, Edukasyon CEO and Founder Henry Motte-Muñoz said,
“We are grateful for partners who believe in our mission and the critical role technology can play in improving education to employment outcomes for the Filipino youth. This opportunity allows us to deepen our focus on product development, to not only broaden the platform’s reach but more importantly, to create more meaningful and measureable engagement with each user.”
According to Edukasyon, out of two million Filipino teenagers who turn 18 each year, up to 80 percent are left behind between higher education and employment, resulting in poor life outcomes. The startup is on a mission to address the issue by guiding the students throughout their education and eventually career by giving them a choice of options and advice equipping them for better decision-making.
To expand its reach to youth and students in the Philippines, Edukasyon also acquired FindUniversity, an online directory of colleges, universities and academic programs offered across the country, in April this year. Launched in 2010, FineUniversity enables access to over 20,000 academic programs offered in over 900 higher education institutes across the Philippines.