Edutech startup Gredu Receives New Funding Worth IDR 58 Billion
Edutech startup Gredu received additional series A funding of IDR 58 billion. It is planned that the funds will be used to support the digitization of Indonesian education and the expansion of services to major cities other than Jabodetabek.
This funding is also to accelerate the development of products that can be personalized to meet the needs of educators and school administration teams, as well as the recruitment of new talent across all functions to support the digitization of the Indonesian education sector.
This funding round was led by a venture capitalist focused on financing native Indonesian startups, Intudo Ventures, with the participation of a previous investor, Vertex Ventures.
“With this funding, we want to further increase our product and reach, reduce friction and facilitate the digitization process by offering an intuitive and attractive solution,” said Rizky Anies, Co-Founder and CEO of Gredu in an official statement received, Tuesday (13/7/2021).
He hopes that digitalization in school activities can be carried out correctly and effectively for all parties involved. He is optimistic about market conditions and the growth of digitalization in education in Indonesia.
“We believe in the market and growth of digitalization in education and aim to expand our business nationally and regionally over the next year,” he added.
Gredu Startup Considered Effective in Digitizing Education
Meanwhile, Intudo Ventures’ Founding Partner, Patrick Yip, sees Gredu startup as effective in digitizing school operations in Indonesia.
“Working closely with the community and school administrators, Gredu provides innovative solutions specifically designed to improve the quality, transparency and effectiveness of the Indonesian education system,” he said.
In addition, Joo Hock Chua, Managing Partner at Vertex Ventures, views that the current 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’s value chain, is in a great position to capitalize on this change and help improve the Indonesian education quality,” he said.
Services Provided by Gredu
This startup that was founded in 2016 provides applications that consist of four main components. Gredu School Management System, a set of administrative tools designed to improve school management.
Then, Gredu Teacher which allows teachers to track student attendance, create and grade exams, establish communication between administrators and parents, and organize class activities.
Furthermore, Gredu Parent as a portal designed to help parents and guardians monitor their children’s performance and attendance.
As well as Gredu Student which allows students to view their test scores, attendance, and school activities, as well as access various content for students and various other support functions.
Information, currently GREDU is developing new vertical products, including programs for preschools and universities.
In the future, GREDU also plans to increase user engagement through interactive features, such as additional content and gamification.
Targeting 70,000 New Users in 2021
Education technology (edtech) startup, Gredu, is eyeing 200 new schools in the first quarter of 2021 as part of its strategic plan this year.
Currently, it has been used by around 300 schools and 350 thousand users (teachers, parents, and students) in Greater Jakarta, West Java, East Java, Aceh, Bengkulu, Bangka Belitung, and Ambon.
With 200 new schools per quarter, Gredu targets 70 thousand new users this year from Tangerang, Cirebon, Southeast Sulawesi, and so on.
At the beginning of this new year, Gredu continued to improve by updating the application to make it more secure and convenient to support the online learning system.
During the Covid-19 pandemic, school digitization has proven to help the learning and teaching process more efficiently, effectively, transparently, and measurably. Gredu startup just launched in January 2020.