Indonesian Edtech Company CoLearn Closes Series A Round
The startup has raised an additional amount of $17 million as part of its Series A follow-on funding. Prior to raising $17 million, it raised $10 million in the Series
CoLearn, one of the fastest-growing edtech platforms in south east Asia, has raised an additional amount of $17 million as part of its Series A follow-on funding from TNB Aura, KTB Network and BINUS GROUP, with participation from existing investors AWI, Sequoia Capital India's Surge, GSV Ventures, AC Ventures, Leo Capital and January Capital. Prior to raising $17 million, CoLearn raised $10 million in Series A funding from leading investors.
The funds will be utilized to strengthen CoLearn's go-to-market strategy, enabling the company to further expand its paid user base in Indonesia and will also help strengthen the company's brand presence.
"CoLearn is not only helping students build a strong foundation in STEM subjects but also has an immediate impact, as over 80 per cent of our subscribed students have seen an improvement in their grades. We are actively working towards changing the mindset around online tutoring with our offering that blends AI and interactivity," said Abhay Saboo, co-founder and CEO CoLearn.
"With the team's unique approach in tackling the K-12 education gap, along with unwavering motivation and hustle, CoLearn has the rare combination to become the next iconic startup from Indonesia," said Vicknesh R Pillay, founding partner at TNB Aura.CoLearn, an online K-12 live learning and homework help platform, was launched in August 2020 and has amassed over 4.8 million users. The platform offers high quality video solutions with clear, concise explanations. CoLearn has a robust technology team operating out of India and UAE that focuses on building innovative solutions for the platform. The company is actively looking at expanding its team size and recruiting for data science, product and engineering roles in these countries, said a statement.