GREDU announced the closing of its Series A funding round worth US$4 million or equivalent to 58 billion rupiah. GREDU will use the financing to expand the market outside the Greater Jakarta area, especially big cities throughout Indonesia.
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.
“In this challenging time, digitalization has become a necessity for schools throughout Indonesia. 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, so that digitization in school activities can be done correctly and effectively for all parties involved. We are confident in the market and digitalization growth in education and are targeting to expand our business nationally and regionally over the next year,” said Rizky Anies, Co-Founder CEO of GREDU.
Founded in September 2016, GREDU provides applications that consist of four main components, namely GREDU School Management System, GREDU Teacher, GREDU Parent, and GREDU Student.
Implementing a subscription scheme for the four GREDU services makes it possible for schools and teachers to track student performance and progress according to the national curriculum to improve supervision and effectiveness of instruction. Currently, GREDU cooperates with more than 400 schools, with more than 400,000 users, and counting.
“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. We are proud to support GREDU at this critical time as they are helping more schools digitize their operations and create a positive impact for students across Indonesia,” said Patrick Yip, Founding Partner of Intudo Ventures.
Meanwhile, Joo Hock Chua, Managing Partner at Vertex Ventures stated, 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 value chain, is in a great position to capitalize on this change and help improve the quality of education in Indonesia.”
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 .