Indonesian edutech startup Zenius reportedly raised US$20M from Northstar Group, onboarding ex-gojek COO as its new CEO
Indonesia-based edutech platform Zenius reportedly has raised US$20 million (IDR283 billion) from Northstar Group, DailySocial has learned in October 2019.
But today, in a new report by The Jakarta Globe, Zenius has confirmed the funding and the appointment of gojek’s ex-COO Rohan Monga as its new Chief Executive.
With Monga’s appointment, Zenius founder and former chief executive Sabda P.S will be taking the role of chief education officer.
P.S said, “Monga’s appointment was based on his extensive experience and problem-solving ability – and also his success in making gojek the first decacorn company in Indonesia.”
The funding, said Monga, comes in time as the company plans to do a marketing revamp, a content refresh, talent hiring, and overall technology improvement.
For product and technology improvement, the company said it will be geared toward creating a better user experience. To support this means, Zenius said it has opened an office in India as part of its technology centre and to house its engineers to scale up faster.
“We’re now targeting a younger demographic. To attract them, Zenius will create new formats to deliver content while maintaining their current identity. The platform awareness is still low,” Monga explained.
Founded in 2007, Zenius said it has clocked about 51 million users by the end of 2019 and claimed to be one of the first initiators of edutech startup in the country. In part, it’s thanks to their new free access for learning videos and other educational materials policy announced in December.
Moving classroom online has been in trend for the past couple of years, with the country seeing names such as Zenius’ competition Ruangguru aggressively accelerates its growth and in-country expansion. It was valued beyond US$100 million by 2018, according to DailySocial‘s Startup Report 2018.
Recently, Ruangguru has added another segment such as Ruangkerja, aimed at employees to have access to Skill Academy, facilitating extracurricular skills improvement for career people.
According to data summoned from Crunchbase, this could be the first funding outside internal fundraising that Zenius has raised.
Zenius was established in 2007 as an online course service targeting all education levels, from elementary school to senior high with public university test prep.
The cost to subscribe to its online course starts from US$12 to US$46 per month. Zenius is said to already have a library of 80,000 educational videos.