Edukasyon.ph, an education technology startup in the Philippines, has made an initial close of its Series A funding round, raising an undisclosed amount from a number of Asian and European investors.
In a statement, the startup, founded by Henry Motte-Muñoz in 2015, said the funding round was backed by EduLab Capital Partners, Obunsha Ventures, Alternate Ventures, Foxmont Capital Partners, Lorinet Foundation, French Partners, First Asia Venture Capital, and KSR Ventures.
Edukasyon claims to draw 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.
It partners with more than 500 educational institutions and 50 corporations and foundations. In the coming months, Edukasyon.ph said it will unveil new platform features and strengthen its network of partners from all sectors across the country.
The initial close of the Series A funding round comes more than a year after Edukasyon.ph raised an undisclosed amount in a pre-Series A funding round backed by KSR Ventures and French Partners. The startup also secured investment from the Gobi-Core Philippine Fund in early 2019.
In 2016, Edukasyon raised an undisclosed amount in its seed financing round, which was led by UK-based impact fund Mustard Seed and backed by other impact funds, family offices, and angel investors.
“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,” said Edukasyon.ph CEO and Founder Henry Motte-Muñoz.
According to data cited by the startup, about 1.6 million of Filipinos who turn 18 each year are left behind between higher education to employment, resulting in poor life outcomes. Motte-Muñoz said the platform guides students throughout their education, and eventually career by giving them a choice of options, advice, and convenience.
In April, Edukasyon.ph acquired FindUniversity, an online directory of colleges, universities and academic programmes offered across the country, for an undisclosed amount. FindUniversity, launched in 2010, enables access to over 20,000 academic programmes offered in over 900 higher education institutes across the Philippines.