Glorang scores $10M Series A to expand its edtech marketplace in Asia – MovieUpdates

GlorangA Seoul-based edtech startup that offers after-school classes and extracurricular activities online for students ages 3 to 18 said Friday it has raised $10 million Series A funding co-led by Korea Investment Partners and Murex Partners, together. with the Japanese capital Pksha.

The new funding, bringing the total to $18 million, values ​​Glorang at about $40 million, Glorang CEO and founder Taeil Hwang told MovieUpdates.

The startup has ambitions to become extracurricular from Asia. Hwang said its business model is similar to Outschool, the after-school marketplace for kids in San Francisco. Glorang will use the Series A to expand its service to Japan and Malaysia in the fourth quarter of this year and Taiwan, Thailand and Vietnam in the coming years, Hwang said. It also plans to expand its workforce.

“The education market in the Anglophone and North American regions is undoubtedly large, but we [at Glorang] understand that the local D2C education market of any country in Asia can be just as big,” said Hwang.

The coronavirus pandemic has forced students in many parts of the world to become online students; tThe education technology industry has experienced a sudden surge in demand worldwide as a result of the pandemic. The Asia-Pacific is one of the fastest growing regions in Edtech adoption, rising to $64.5 billion in 2027, from $17.6 billion in 2019.

Glorang was founded in 2017 by Hwang, who started this company with an AI-powered platform that helps match students with study abroad programs. Before the COVID-19 pandemic, Glorang ran and launched its main business, the online classroom platform gguge in 2020, Hwang said. The company claims that Gguge has over 100,000 users in South Korea.

What sets Gguge apart from its peers is its offering of education services in local languages, Hwang said, adding that it currently offers Korean but will soon add the Japanese language.

Gguge offers a selection of over 5,000 online classes via Zoom. Instructors help students use active learning methods ranging from reading newspapers to solving puzzles to incorporating Minecraft and Pokemon games into the lessons.

“As a team that understands both the local culture and strategies in Asia, we are confident that our platform will have a strong foothold in the expanding D2C education market in Asia,” said Hwang.

Students can take a one-day class or subscription-based semester classes through Gguge. The company has a team of 35 in Korea.

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