Colearn Secures $10M Series A Funding

CoLearn Secures $10 Million Series A Funding to Revolutionize Indonesian Education

Initially established as a network of physical tutoring centers, Indonesian startup CoLearn transitioned towards a hybrid learning approach before the onset of the COVID-19 pandemic. Recognizing a permanent shift in student preferences towards remote learning, the company concentrated its efforts on its mobile application, launched in August 2020.

Rapid Growth and User Engagement

Since its launch, the CoLearn app has garnered over 3.5 million downloads and currently boasts approximately one million active users, primarily students from grades 7 through 12. This demonstrates a significant demand for accessible and effective online tutoring solutions within Indonesia.

Investment Details and Key Investors

The company recently announced the successful completion of a $10 million Series A funding round. This investment was co-led by Alpha Wave Incubation and GSV Ventures, marking their inaugural investments within Indonesia. Returning investors, Sequoia Capital India’s Surge and AC Ventures, also participated in this funding round.

Addressing Indonesia’s Educational Challenges

Improving PISA Rankings

A core objective for the Jakarta-based company is to elevate educational standards throughout Indonesia. Currently, the nation’s performance in the PISA (Programme for International Student Assessment) rankings places it within the bottom 10% globally for mathematics, science, and reading comprehension. CoLearn aims to improve Indonesia’s PISA ratings, striving to reach the top 50% within the next five years.

Comprehensive Learning Resources

The CoLearn application provides access to a library of over 250,000 pre-recorded video lessons designed to assist students with their homework. These videos function as an initial engagement tool, encouraging students and their parents to subscribe to CoLearn’s live, interactive online classes.

The Team and Market Opportunity

Founding Team Expertise

CoLearn was founded by Abhay Saboo, Marc Irawan, and Sandeep Devaram, a former product team member at BYJU. Despite being the world’s fourth most populous nation with 270 million inhabitants, Indonesia has experienced comparatively less investment and innovation in its educational infrastructure when contrasted with countries like China or India, as noted by Saboo.

Shifting Preferences Towards Online Learning

CoLearn initially began operations with offline tutoring in 2018, later adopting a hybrid model. The pandemic accelerated the company’s transition to a fully online platform. Even with the reopening of schools, the team anticipates a continued preference for the convenience of online afterschool learning, as traditional tutoring centers require significant time commitments.

Innovative Approach to Learning

AI-Powered Question Support

CoLearn users submit approximately 5 million questions each month through the app. The company’s AI platform intelligently connects students with relevant video tutorials, created by a network of over 400 tutors, that explain complex concepts in a clear and accessible manner.

Differentiating from Competitors

Saboo highlights that CoLearn distinguishes itself from competitors, such as SnapAsk, by prioritizing engaging video explanations over static diagrams. This approach caters to the learning preferences of the current generation of students.

The Power of Video Learning

“We realized that students are truly seeking step-by-step explanations, and given that this is the TikTok generation, a video can convey a message far more effectively than a picture,” Saboo explained. He further observed that students frequently pause videos to test their understanding before checking the solution, demonstrating a desire for conceptual comprehension.

Future Plans and Expansion

Focus on Live Online Classes

The company’s primary focus will be on expanding its live online class offerings, with the ambition of replicating the success of leading Chinese edtech companies like Yuanfudao and Zuoyebang. To support this growth, CoLearn will implement comprehensive teacher training programs, aiming to train over 200 teachers over the next two years, particularly in STEM fields.

Strategic Geographic Focus

While potential expansion into other countries with similar educational challenges exists, CoLearn intends to concentrate its efforts on the Indonesian market for at least the next two years.

Additional Investors

Other investors contributing to CoLearn’s success include Leo Capital, TNB Aura, S7V, January Capital, Alpha JWC, Taurus Ventures, Alter Global and Mahanusa Capital.

Industry Validation

Deborah Quazzo, managing partner at GSV Ventures, stated in a press release, “The opportunity to develop effective learning solutions for the world’s fourth-largest country is substantial. The most successful businesses emerge when entrepreneurs address significant, impactful problems, and CoLearn is actively doing so.”