Edtech startup CoLearn closes Series A round at $27M led by TNB Aura, KTB Network, others
The round also saw participation from existing investors AWI, Sequoia Capital India’s Surge, GSV Ventures, AC Ventures, Leo Capital, and January Capital. The company has closed the Series A round at $27 million.
This is a maiden investment for Indonesia’s university, BINUS GROUP, which has joined the company as a strategic partner. This latest round, which brings CoLearn’s funding total to $34 million, will be deployed to strengthen CoLearn’s go-to-market strategy, enabling the company to further expand its paid user base in Indonesia.
Abhay Saboo, Co-founder and CEO of CoLearn, said,
“CoLearn is not only helping students build a strong foundation in STEM subjects but also has an immediate impact, as over 80 percent of our subscribed students have seen an improvement in their grades. With a consistent NPS (Net Promoter Score) of over 70 for our live classes and more than 90 percent organic traffic of our AI-powered homework help feature, we are actively working towards changing the mindset around online tutoring with our offering that blends AI and interactivity.”
CoLearn, an online K-12 live learning and homework help platform, was launched in August 2020 by Abhay Saboo, Marc Irawan, and Sandeep Devaram and has amassed over 4.8 million users with over 85 million questions asked to-date. In 2021, the number of questions asked grew 5x with its AI-powered problem-solving platform, alleviating students’ as well as parents’ problems with respect to doing homework.
The platform claims to offer video solutions with clear, concise explanations. CoLearn has a robust technology team operating out of India and UAE that focuses on building innovative solutions for the platform. The company is actively looking at expanding its team size and recruiting for data science, product, and engineering roles in these countries.
Amy Yeh, Senior Managing Director at KTB Network said,
“The resilience CoLearn has shown during the pandemic is a testament to the team’s strength and ability to navigate the ever-changing edtech landscape. The team’s laser-sharp focus in delivering the best live class experience is quickly gaining the confidence of the students and parents alike. Tanya, their AI-powered problem-solving platform that helps with homework, addresses a key problem and therefore has become an integral part of the lives of students in Indonesia.”
CoLearn an online platform which hopes to improve the education standards in Indonesia and it seems to be a fascinating startup with motivating turn of events. I’m sure this startup would continue to prosper in its journey ahead. My best wishes to the entire team of CoLearn. This will give them a huge accomplishment in future.Shishir Gupta, Founder and CEO, StartupLanes
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