The SaaS platform developer for education, GREDU, announced a series A funding worth of $4 million or equivalent to IDR 58 billion. The round was led by Intudo Ventures with the participation of previous investor Vertex Ventures. Funds will be focused on market expansion, product development, and talent recruitment.
Based on the statistics, GREDU is currently partnering with 400 schools, providing around 400 thousand users. Previously, they focused more on the K-12 level (SD to SMA), however, with more mature products, GREDU also serves digitization at universities and pre-schools (PAUD, TK).
The fact is that new school digitization services are optimally utilized by schools in big cities. GREDU admits that its user base still centralized on the Greater Jakarta area. The expansion plan will be intensified, in order to acquire new users from schools in various cities in Indonesia.
“In these challenging times, digitization is required for schools across Indonesia. With this financing round, we plan to increase our product and reach, reduce friction and ease the digitization process […] We are confident in the market and growth digitalization in the education sector and want to expand the business nationally and regionally until next year,” GREDU’s Co-Founder & CEO, Rizky Anies said.
The GREDU application ecosystem consists of four main services, the School Management System for administrative officers; GREDU Teacher to accommodate teachers for teaching and learning administration activities; GREDU Parent to help parents see their child’s performance; and GREDU Student to make it easier for students to get access to learning channels and results.
“Working with the community and school administrators, GREDU provides innovative solutions specifically designed to improve the quality, transparency and effectiveness of Indonesia’s education system. We are proud to support GREDU at this critical time as they help more schools digitize their operations and create a positive impact for students throughout Indonesia,” Intudo Ventures’ Founding Partner, Patrick Yip said.
Meanwhile, Vertex Ventures’ Managing Partner, Joo Hock Chua said, “The pandemic has accelerated the need for digitalization and transformation in the education industry. We believe that GREDU, with its holistic approach to serving all stakeholders and the school value chain, is in a great position to capitalize on this change. This also helps improve the quality of education in Indonesia.”
SaaS services are indeed a variant of the educational technology ecosystem. In Indonesia, apart from GREDU, there are several other startups that also sell SaaS services for schools with its respective value propositions. These startups include AIMSIS, EdConnect, SmartSchool InfraDigital, Sikad, and Quintal.
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Original article is in Indonesian, translated by Kristin Siagian
