Jakarta. Online learning platform Zenius has raised $20 million in funding and appointed Rohan Monga, Gojek Indonesia's former chief operating officer, as its new boss, as the company continues to develop and improve its platform.
Singapore-based private equity company Northstar Group, also an investor in Indonesia's first decacorn Gojek, lead the Series A funding, which also included early-stage venture capital firms Kinesys Group and Beenext.
Monga, who now becomes Zenius' new chief executive, said on Wednesday the funding came at a critical time as the company plans to revamp its marketing, refresh content, improve technology and hire more talents.
Monga said the platform is now targeting a younger demographic. To attract them, Zenius will create new formats to deliver content while maintaining its current identity.
Marketing will be a new focus for Zenius, with Monga admitting awareness of the platform is still low.
Its focus on product and technology will be geared toward creating a better user experience. To this end, Zenius has also opened an office in India as part of its technology center.
"We now have engineers Jakarta and India as part of our technology center. They will collaborate to scale up the platform faster," Monga said.
Some of the new funding will also go to hiring the best talents in the country.
By the end of 2019, Zenius already had 51 million users.
In December, the company announced it would give free access to its learning videos and other educational materials. Monga said this would not affect the quality of the materials they deliver.
"We know Indonesians are willing to pay [for supplemental education], and our platform is a testament to that," Monga said.
According to him, before offering free access to its materials, Zenius already commanded the highest price compared to its competitors in the educational technology sector and still remains one of its leading players.
Comparing Gojek with Zenius, Monga said even though they offer different services, the two platforms operate in similar ways and focus on similar goals.
"Gojek is a transaction platform while Zenius is an engagement platform. What's really important across both is that we operate at very high speed – to deliver our roadmaps and marketing plans, for example. [And in] both you see a similar focus on metrics, including on customer engagement, and on making sure that we're delivering better outcomes," Monga said.
Zenius founder and former chief executive, Sabda 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.
Sabda will now take on the role of chief education officer at Zenius, a company he founded in 2007.