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CoLearn was already a late entrant to the Indonesian edtech market when it launched in 2018.
Ruangurru and Zenius, leaders in the sector, were already fighting it out for the top spot in the recorded-content space, so CoLearn decided to steer clear of that and explore live classes and AI-powered homework assistance instead.
Since then, other edtech firms, including Ruangguru and Zenius, have followed CoLearn’s lead. Despite that, it looks like its initial strategy has paid off as CoLearn closes a US$27 million series A round.
Now it plans to crack the problem of monetization. Though making money is a monumental challenge for edtech companies everywhere, CoLearn’s founder believes the firm is close to figuring it out.
— Nathaniel
The Big Story
Exclusive: Indonesia’s CoLearn bags more funding to wrap up $27m series A
While product diversification is a common move for startups flush with capital, CoLearn believes sticking to a certain expertise can bring big success. Read more.
Trending news
1. Grab still tops SEA’s food delivery market in 2021: report
Like last year, Grab contributed nearly half of the GMVs that the region’s food delivery market generated in 2021, according to the Momentum Works report.
2. AC Ventures leads $1.1m seed round of 🇮🇩 earned wage access firm
Gajiku said that 90% of its registered employees transact at least once a month.
3. Tiger Global, Sequoia back crypto firm’s $40m round
Babel Finance offers crypto lending and crypto trading services to institutional investors and high-net-worth individuals.
4. Square Peg co-leads $40m round of 🇸🇬 edtech firm
Cialfo connects high schoolers, counsellors, and colleges to ease the career exploration and college search process.
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