Edusuite, a two-year-old technology startup funded by the Department of Science and Technology, said it has met its angel investment target of P12 million after just six months of fundraising, bringing its valuation to P68 million.
Among the participants in the funding round include seasoned angel investors from the Manila Angel Investors Network (MAIN) and two of Edusuite’s clients: Batangas Eastern Colleges (BEC) and Sumulong College of Arts and Sciences.
“I invested in Edusuite because I saw that the company solves real problems for schools, especially in increasing revenue. I did not see others in this space doing so,” said Jay Chan from MAIN. “In addition, the management has a proven track record of executing on time and on budget, and a reputation for integrity.”
Edusuite’s software was launched commercially last year and already has seven schools in its client portfolio, including Ateneo High School and CIIT College. It uses artificial intelligence to predict administrative needs and make recommendations to school administrators.
For example, it can predict the demand for each subject a college will offer in the following school term, so that the school can open the exact number of sections and hire the right number of faculty, drastically improving the profitability of the school. The system also meets global standards in data privacy and security.
“It’s aligned with our school’s thrust of blending education with technology to be globally competitive,” says Euneil Castillo, school administrator of BEC. “Edusuite can match the needs of a growing institution like ours, so we saw us growing together with many mutual opportunities.”
Edusuite was founded by Niel Dagondon, its CEO, and Calen Legaspi, its CTO. Dagondon is a serial entrepreneur, with a prominent exit from Anino Games, at the time the largest game development firm in the Philippines as detailed in journalist Ezra Ferraz’s book, The Finishers. Legaspi, on the other hand, is co-founder and CEO of Orange and Bronze Software Labs, a technology consulting firm that has implemented large critical projects for the country’s largest telcos and banks, as well as for technology companies in eleven other countries.