Gredu, an Indonesia-based school management solutions provider, announced that it has raised an undisclosed Pre-Series A funding from Vertex Ventures.
The funding will be used to develop the Gredu application further so that its features are “fully completed and functional” in accordance with the existing education system in Indonesia.
Formed in 2016, Gredu focusses on facilitating teachers’ administrative work such as filling and processing student attendance lists, compiling the daily reports, compiling syllabus details, and managing their teaching schedules.
In its official statement, the company said it supports the mission revealed by Nadiem Makarim, the Minister of Education and Culture in Indonesia, during his speech on National Teacher’s Day 2019.
Makarim stated that even though teachers wanted to help students to catch up with their study, they would still have to spend most of their time doing heavy administrative tasks.
“The commitment in presenting a solution to digitise the school environment can create a more efficient, effective, transparent and measurable learning and teaching process,” said Rizky Anies, CEO of Gredu.
Gredu builds a centralised management system supported by separate apps for teachers, parents, and students. It also provides technical assistance before, during, and after the onboarding process.
The system can be adapted to the curriculum that is being used by the schools to help reduce the amount of paper usage significantly.
With its app, Gredu also invites parents to keep up with their children’s progress in real-time. Through recommendations given by teachers, parents are expected to be able to recognise and explore their children’s potential as well as to assist them in areas that they are lacking.
To date, Gredu said it has worked with more than 200 public and private schools in Indonesia.
Venture capital fund Vertex Ventures is the venture capital unit of Singapore’s Temasek that holds more than US$700 million in assets under management.
Joo Hock Chua, Managing Partner at Vertex for Southeast Asia and India, said that the fund is very optimistic about the edutech space in Indonesia.
“We see that the education industry, along with many other sectors in Indonesia, is undergoing rapid transformation and digitisation. We believe that Gredu, with its holistic approach to serving the school’s stakeholders and value chain, is in a great position to capitalise on this change as well as help improve the education quality in Indonesia,” Chua said.
The year 2019 was an exciting year for the Indonesian edutech sector as several Indonesian startups announced high-profile funding rounds.
Ruangguru announced a US$150 million Series C funding round led by growth equity company Global Atlantic and venture capital firm GGV Capital in December. The startup’s co-founder Adamas Belva Devara Syah also made headlines with his appointment as a presidential special staff by President Joko Widodo.
HarukaEdu raises its Series C funding round in November, which was meant to support its expansion to B2B services.
Zenius also announced their funding round in October and had launched a free-to-access content offering since.
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