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Nathaniel Fetalvero · · 5 min readCould this edtech latecomer crack the code to monetization? – The Executive Brief
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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.
Today we look at,
- Indonesian edtech startup CoLearn’s US$17 million extension series A round
- An Indonesia-based earned-wage access firm’s US$1.1 million seed round
- Other newsy highlights such as Grab topping the SEA food delivery market last year and the sky-high prices of virtual land in Hong Kong
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Indonesia’s CoLearn wraps up US$27 million series A
The Indonesian edtech firm closed a US$17 million extension series A round late last year, on top of the US$10 million it had raised in April 2021, said Abhay Saboo, CoLearn’s co-founder and CEO, in an exclusive interview with Tech in Asia.
- With the new funding, the company looks to reach more students and their parents. It also plans to double down on its go-to-market strategy and monetization efforts.
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Since its launch in 2018, CoLearn has consciously steered clear of the competitive recorded content arena and instead ventured into other spaces: live classes and AI-powered homework assistance – two areas it now wants to “dominate and own.”
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At the moment, the startup makes money from its live classes, but it is now looking to focus on its go-to market strategy and monetization efforts – and Saboo believes the company is close to cracking it.
An 🇮🇩 earned-wage access firm banks seed funding
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An Indonesian edtech startup’s latest funding more than doubles its series A amount and an earned-wage access startup secures a seed round.
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