EduLab Capital Partners and Obunsha Ventures invest in Philippines-based online education platform, Edukasyon.ph.
BOSTON — Nov. 7, 2019— EduLab Capital Partners, a seed-stage venture capital firm, and Obunsha Ventures today announced an investment in Philippines-based Edukasyon.ph. The funding will allow Edukasyon.ph to expand its online platform that helps Filipino youth find high schools and colleges, connect with international schools, and apply for scholarships. EduLab Capital Partners and Obunsha Ventures invested alongside Alternate Ventures, Foxmont Capital Partners, Lorinet Foundation, French Partners, First Asia Venture Capital and KSR Ventures. The amount of the round was undisclosed.
Edukasyon.ph claims to draw 10 million annual visitors to its platforms by offering access to senior high schools, colleges and universities, scholarships, online courses and other resources that enable successful education to employment pathways. It partners with more than 500 educational institutions and 50 corporations and foundations. In the coming months, Edukasyon.ph said it will unveil new platform features and strengthen its network of partners from all sectors across the country. The initial close of the Series A funding round comes more than a year after Edukasyon.ph raised an undisclosed amount in a pre-Series A funding round backed by KSR Ventures and French Partners. The startup also secured investment from the Gobi-Core Philippine Fund in early 2019. It is headquartered in Taguig City in Manila.
“We are thrilled to be part of the Edukasyon.ph team and to be supporting students, parents and schools as the prominent education-focused online platform for Generation Z in the Philippines,” said Koji Takahashi, Managing Partner of EduLab Capital Partners. “We are excited to be creating value together in the Philippines and Southeast Asia. While EduLab Group has already been actively invested in Asia, including China, India and Southeast Asia, this marks the first investment in the region for EduLab Capital Partners. We would like to further accelerate our efforts to support entrepreneurs around the world, utilizing our global presence and network.”
In the Philippines, out of two million teenagers who turn 18 each year, up to 80 percent are left behind between higher education to employment, resulting in poor life outcomes. Edukasyon.ph was created as a solution to centralize resources and facilitate inquiries and applications to various schools so that students can take control of their options and be equipped for better decision-making.
Edukasyon.ph CEO Henry Motte-Muñoz commented, “EduLab Capital Partners and Obunsha Ventures bring a wealth of experience and expertise in both traditional and innovative approaches to education, which will be instrumental as we continue to scale our impact in the Philippines and, eventually, beyond. We look forward to creating value together, leveraging fresh insights and a strong global network to ensure Edukasyon.ph’s technology platform serves the needs of students, career-seekers, and the broader education and corporate ecosystem.”
Earlier this year in April, Edukasyon.ph acquired FindUniversity, an online directory of colleges, universities and academic programs offered across the country, for an undisclosed amount. Launched in 2010, FindUniversity provides access to more than 20,000 academic programs offered in over 900 higher education institutes across the Philippines.
“Obunsha has been serving students in Japan by offering a number of services, including educational contents and college admission database through traditional publishing and online businesses,” said Teruyuki Honda of Obunsha Ventures. “Edukasyon.ph and Obunsha share key areas of focus, and there is a lot of opportunity for creating synergies between the two companies. We are excited to be able to contribute to Edukasyon.ph’s growth by sharing our tangible and intangible assets and the know-how that we have obtained over almost 90 years of experience in education.”
About EduLab Capital Partners
EduLab Capital Partners is a seed-stage venture capital firm focused exclusively on the education market, investing in business models that transcend the traditional education landscape. The Company’s Boston- and Tokyo-based team provides foundational support to entrepreneurs to help expand their customer base, make key early-stage hires, and raise additional capital for profitable and sustainable growth. EduLab’s education market savvy and artificial intelligence expertise provide unique leverage points for its investments, while the Company’s network of global partnerships and distribution channels provide its portfolio companies with the depth and reach to quickly accelerate product integration and impact. For more information, visit www.edulabcapital.com.
About Obunsha Ventures
Obunsha-Ventures is an edtech-focused CVC founded by Obunsha, Tokyo-based educational publisher with 88 years of history. We envision to shape the future of education with entrepreneurs by utilizing Obunsha’s know-how in education business, massive education contents, platforms, distribution channels and networks of business partners. We particularly focus on technologies such as but not limited to cognitive science, AI, VR/AR and AdTech for educational use.
Edukasyon.ph is the leading education technology platform in the Philippines, empowering Filipino Gen Z youth to make self-aware education decisions that lead to a fulfilling career and life. The online platform enables students to access senior high schools, colleges, scholarships, online courses, internships and other learning resources. In partnership with hundreds of educational institutions, corporations and foundations, Edukasyon.ph equips the youth with information to help them create and shape their own paths. Edukasyon.ph, which also operates FindUniversity, www.finduniversity.ph, engages more than 10 million Gen Z youth each year. Launched in 2015, Edukasyon.ph is a team of more than 90 and is headquartered in Manila, with offices in Cebu and Davao. For more information, visit www.edukasyon.ph.
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