By Merlina Hernando-Malipot
A leading Manila-based online youth platform has announced the receipt of an undisclosed amount from an international partner to fuel its continued growth.
Philippine startup Edukasyon received funding from the recently launched Gobi-Core Philippine Fund. This latest round of funding brings onboard Gobi Partners, a Shanghai and Kuala Lumpur-based VC with a huge presence in Southeast Asia, and Philippine-based Core Capital, together with Edukasyon’s set of Asian and European investors – including Mustard Seed, KSR Ventures and French Partners.
“We are excited to partner with Gobi-Core,” said Edukasyon Chief Executive Officer and Founder Henry Motte-Muñoz. He added that by leveraging experience and network in Asia-Pacific alongside Philippine-specific expertise, “these will prove invaluable as we expand our product offering, and grow our reach nationwide.”
Having reached over 10 million student visitors in 2018 alone, Edukasyon is considered the Philippines’ “leading online youth platform, helping Filipino youth aged 13 to 23 make better-informed college, career and life decisions by providing them with essential information, relevant advice and an avenue to connect with 10,000+ educational institutions right at their fingertips – all for free.” Motte-Muñoz said that by 2020, it “aims to become the go-to online youth platform for every Gen Z Filipino by developing an ecosystem of relevant services and solidifying its presence nationwide.”
Motte-Muñoz said despite spending over $13 billion on education, Gen Z students in the Philippines “are faced with a fundamentally inefficient system where only 15% of students will get into higher education and find a job at graduation, leading to the country’s high 25% youth unemployment / underemployment rate.” Thus, “informed decision-making and proper support is imperative to ensure students’ success.” Edukasyon, he added, “guides its students, ensuring they do not merely get into college but also into their desired careers.”
Meanwhile, Carlo Delantar of Core Capital said Edukasyon’s “dedication through education access is an important topic to address in the country.” He added that “working with their passionate team, together with Core Capital, we can impact and create opportunities for millions of Filipinos.”
Edukasyon has since expanded across the Philippines to related verticals, connecting students to colleges, technical-vocational schools, review centers, online education providers and foreign universities, and opened offices in Central Luzon and Mindanao after initially serving a small segment of senior high schools in Metro Manila in 2015.
Edukasyon aims to further develop both its user- and client-base outside Metro Manila. “Through our investment, we aim to boost Edukasyon’s mission to reach all students nationwide,” Delantar said.
Last year, Edukasyon started exploring different partnerships with other institutions seeking to empower the youth. This has led to partnerships with various brands and with high impact projects like “Investing in Young Pinays” – a partnership with the Australian Government.
Edukasyon identifies itself as the “#1 one-stop online platform for Gen Z (ages 13-23) youth in the Philippines, empowering its 10+ million annual student visitors to make better education, career and life decisions.” Its holistic set of services addresses various Gen Z youth’s “needs throughout their education to employment journey by engaging with them across their three key identities – as students, consumers and future employees – in partnership with the institutions within the ecosystem surrounding the youth – schools, foundations, corporations and jobsites.”
Currently, Edukasyon reaches more than 1 million Gen Z youth every month and works with 10 of the country’s largest corporations and 500+ education partners all over the world, including in the Philippines, ASEAN, Europe, North America and Australia.