Edusuite, a two-year-old DOST-funded technology startup founded by school administrators and technology consultants, met its angel investment target of Php 12 million after just six months of fundraising, bringing its valuation to Php 68 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. Edusuite is the first School Management system to utilize advances in artificial intelligence to 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 right number of sections and hire the right number of faculty, drastically improving the quality and profitability of the school. Also, it automatically generates an optimized schedule so that conflict between student, faculty and room availability is minimized. 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, CEO, and Calen Legaspi, CTO. Niel is a four-time 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. Calen is co-founder and CEO of Orange and Bronze Software Labs, a technology consulting firm that has implemented large critical projects for the Philippines' largest telcos and banks, as well as for technology companies in eleven other countries.
Myka Sumulong, a director of Sumulong College, mentions, “When I met Niel during their demo at our campus, I saw his clear vision and dedication to modernize the Philippine education sector.” Mia Sumulong, also a director of Sumulong College, adds that their investment “expresses our faith in the Filipino potential to innovate: that we can excel and compete globally even within the confines of our Inang Bayan.”
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