Glorang secures $10M Series A to expand IT market across Asia – TechCrunch

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

The new funding, which brings its total raised to $18 million, values ​​Glorang at around $40 million, Glorang CEO and Founder Taeil Hwang told TechCrunch.

The startup aspires to become Outschool from Asia. Hwang said his business model is similar to Outschool, the San Francisco-based afterschool kids’ marketplace. Glorang will use Series A to expand its service to Japan and Malaysia by the fourth quarter of this year and to Taiwan, Thailand and Vietnam in subsequent years, Hwang said. It also plans to increase its workforce.

“The education market in English-speaking and North American regions is undoubtedly large, but we [at Glorang] understand that each country’s local D2C education market in Asia can be equally important,” Hwang said.

The coronavirus pandemic has forced students in many parts of the world to become online learners; youThe education technology industry has seen a sudden surge and global demand due to the pandemic. Asia-Pacific is one of the fastest growing regions in Edtech adoption, growing 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 helping students adapt to study abroad programs. Prior to the COVID-19 pandemic, Glorang pivoted its core business, the online course platform, and launched Guge 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 providing educational 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 courses via Zoom. Instructors help students adopt active learning methods, from reading newspapers and solving puzzles to incorporating Minecraft and Pokemon games into lessons.

“As a team that understands both local culture and strategies in Asia, we are confident that our platform will have a solid reputation in the ever-growing Asian D2C education market,” Hwang said.

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

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