Edukasyon.ph, the leading education technology platform in the Philippines, today announced the initial close of its Series A financing round, joined by Asian and European investors including EduLab Capital Partners, Obunsha Ventures, Alternate Ventures, Foxmont Capital Partners, Lorinet Foundation, French Partners, First Asia Venture Capital and KSR Ventures. The undisclosed amount raised in Series A comes on the heels of Edukasyon.ph’s pre-Series A round closed in May 2018 and an investment from the Gobi-Core Philippine Fund in early 2019.
Edukasyon.ph, which launched in 2015, now draws 10 million annual visitors to its platforms by offering access to senior high schools, colleges and universities, scholarships, online courses and other resources that enable successful education to employment pathways. In partnership with more than 500 educational institutions and 50 corporations and foundations, Edukasyon.ph aims to empower Filipino Gen Z youth to make self-aware education decisions that lead to a fulfilling career and life. This year, the Manila-based startup also solidified its nationwide presence by launching its offices in Cebu and Davao.
“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,” said Edukasyon.ph CEO and Founder Henry Motte-Muñoz. “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 measurable engagement with each user.”
Edukasyon.ph is supported in part by impact investors, family offices and angel investors across Asia and Europe, including Mustard Seed, Villgro Philippines, French Partners, KSR Ventures, Gobi-Core Philippine Fund, EduLab Capital Partners, Obunsha Ventures, Alternate Ventures, Foxmont Capital Partners, Lorinet Foundation and First Asia Venture Capital.
They’ve received several recognitions for its work, including the 2017 Financial Times / IFC Transformational Business Award for Achievement in Sustainable Development, with a focus on Education, Knowledge and Skills, as well as the 2017 ASEAN Youth Social Entrepreneurship Awards. Edukasyon.ph was also included in the 2016 World Innovation Summit for Education (WISE) Accelerator Program.
Koji Takahashi of EduLab Capital Partners, a new investor in Edukasyon.ph, stated, “We are thrilled to be joining Edukasyon.ph in creating value for the youth and various educators in the Philippines. This marks EduLab Capital Partners’ first investment in the Asia Pacific region, and we are excited to extend our global presence and network to aid successful startups in transforming education through innovation.”
Michael Dargani, President and CEO of IceDream Inc., who also invested through the Series A round, added, “I am very pleased with the progress Edukasyon.ph has made in such a short period of time, which is a real testament to the vision, hard work and competence of the team. I am certain that with this funding round, they will reach even greater heights.”
In the Philippines, out of 2 million who turn 18 each year, up to 80 percent are left behind between higher education to employment, resulting in poor life outcomes. Edukasyon.ph was created as a solution to centralize resources and facilitate inquiries and applications to various schools, so that students can take control of their options and be equipped for better decision-making. Building on its comprehensive search-and-apply platform for schools and scholarships, Edukasyon.ph has introduced new verticals, connecting students to online courses, technical-vocational programs and internships.
Over the past year, Edukasyon.ph has also significantly expanded its content offering, through multimedia channels that provide students guidance for navigating student life and career preparation. These offerings have cultivated campaign partnerships with leading corporations, which seek new targeted approaches to engage with Gen Z at scale.
“Our hope is to continue building a holistic education ecosystem online, so that together we can eliminate job-skills mismatch and help the youth rise above industry demands,” said Judge Calimbahin, Chief Strategy Officer at Edukasyon.ph. “With continued investment from our partners, we will be able to leverage insights to refine products and services that address the ecosystem’s various needs.”
In the coming months, Edukasyon.ph will unveil new platform features as it strengthens its network of partners from all sectors across the country and beyond.
“For emerging markets across Asia-Pacific, especially within a dynamic economy like the Philippines, the youth represent hope for sustained and responsible growth,” said Franco Verona, Managing Partner at Foxmont Capital Partners. “We are happy to be supporting Edukasyon.ph as it takes on new initiatives to support the next generation of leaders.”