‘Growanda’ (CEO Seojeong Jang), an education and care matching platform for children and children, has attracted 7 billion won worth of Series A Bridge investment from Korea Investment Partners and KDB Development Bank. Growanda’s cumulative investment amounted to 11 billion won, exceeding 10 billion won for the first time in the industry. KDB Development Bank, Daekyo, and Daekyo Investment participated in this investment under the leadership of Korea Investment Partners.
The company explained that the simultaneous investment of Korea’s largest venture capitalist Korea Investment Partners and Daekyo, the number one education company in the education industry, is meaningful in that it acknowledges the value and business model of Growanda as an edutech platform that will innovate the early childhood education market.
Jaranda, who started the teacher matching service in 2017, performs text mining of 250,000 natural language data related to education and care, and automatically recommends teachers and education programs that meet the conditions. The percentage of’regular visits’ among growing up customers who use the service continuously is recording 80%. In addition to simple care, a high percentage (63%) of programs that provide experiences and learning such as English, math, art, and science is highly recommended. Growing up as a new solution for the rapidly changing education environment due to Corona 19, etc., Zaraanda is leading the industry by recording a growth rate of about 3.5 times compared to the previous year based on sales in January. While advancing machine learning-based algorithms, it is expanding its business model with a service that collects and curates kids contents such as educational programs, textbooks, and toys.
Jeong Jeong-mok, director of Korea Investment Partners, who led the investment, said, “We have improved the accuracy of recommendations for educational programs and teachers based on the growth and learning data of young children, going beyond services that fill the gap in childcare. Through user loyalty and data-based Edutech synergy, we decided that we have entered a steep growth period.”
Jang Seo-jung, CEO of Growanda, said, “The market for children’s education and childcare is steadily growing despite the decline in the fertility rate.” “National kids who can find customized solutions and information about education and childcare that depended on word of mouth and community The goal is to become a platform.”