Edukasyon.ph said today it secured an undisclosed sum in bridge funding from several investors, including KSR Ventures, Lorinet Foundation, and Bisk Ventures.
The investment is in the form of a convertible note.
The Filipino edutech startup has used the investment to bolster EDGE Tutor, its online K-12 tutoring services in English and Maths for students aged four to 16.
Launched in 2015, Edukasyon.ph provides access to senior high schools, colleges and universities, scholarships, online courses, and other resources. Edukasyon’s products are Finder (college and career counselling) and Advance (future skills training).
The edutech firm is currently developing a new product to provide parents and their children support and education using the curriculum made by experts.
Edukasyon’s partners include Rex Publishing, Union Bank, PLDT-Smart, Amazon Web Services, Unilever, Asian Development Bank, UN Women, and Ateneo de Manila University.
Also Read: Edukasyon investor Foxmont joins Philippine proptech startup AHG’s US$1.1M seed round
Since the close of Series A in 2019- 2020, Edukasyon.ph claims to have tripled revenues and achieved profitability for its B2B division.
The company said it is close to reaching its first million registered users and has built a community of eight million students.
The Manila-based startup previously closed a pre-Series A round in May 2018 and an investment from the Gobi-Core Philippine Fund in early 2019.
The edutech landscape has changed dramatically in the Philippines, with improvements in internet infrastructure, the explosive growth of e-wallets (estimated 63 per cent penetration by 2025), and massive exposure to online education (over 7 million students in 2021). Today, the country is estimated to be over US$20 billion education market.
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