2024 Southeast Asia EdTech 50

The Southeast Asia EdTech 50 is aligned to the Global Learning Landscape, an Open-Source Taxonomy that maps the education and talent market

Exhibit 2

Tutoring and Test Prep and STEAM solutions, predominantly in the K12 market take a combined 40% of share, with Management Systems, particularly education financing, also strong. Education and Training in the workforce segment also sees a focus on micro learning and mentoring (FutureLab, Gnowbe, ArcLab) and connecting talent with their interest areas (Jay Jay, Skilledin Green).

Exhibit 3

Vietnam’s growth in EdTech continues to climb, edging out Indonesia as it’s mature ecosystem leaves less room for new players.

This year, Vietnam steals the show in terms of representation, with startups from four key categories - Language Learning, Tutoring, Bootcamps/STEAM and Learning Environments.

Over the last five years, Indonesia’s education system has embedded EdTech across the board, providing growth for established EdTechs who dominate the market, however this leaves little room for early stage startups to gain a market foothold. Singapore remains the regional hub as incubator and launch pad into the region.  

Exhibit 4

Direct-to-Consumer models dominate, but B2B offerings edge up with employers seeking workforce development solutions.

Almost two thirds of this year’s cohort operate a direct-to-consumer model, In K-12 solutions support language learning, maths learning, and tutoring/test prep. Similarly in the Workforce sector, language learning is strong, along with upskilling bootcamps like JayJay (Indonesia). 

As employers seek solutions ot upskill their workforce, we see B2B solutions such as ArcLab and Gnowbe in the B2B category, along with startups such as Skilledin Green which offers help for people wanting to build careers in sustainability.

Exhibit 5

Early-stage EdTech’s plummet in this year’s list, with incumbents taking share and funding scarce.

This year’s list sees a much more mature cohort with only 13% of startups founded less than 3 years ago, as startups that have already reached scale take further market share and funding remains very scarce. Mature startups include Ruangguru (Indonesia), Emeritus, ClassPoint, ErudiFi, Flying Cape (Singapore) and CoderSchool, MindX (Vietnam).

 Exhibit 6

Track the 2024 Cohort

HolonIQ customers can track the data for the most promising EdTech startups in the region on the HolonIQ Intelligence Platform. Look for the 2024 Southeast Asia EdTech 50 list and double click into the data behind the charts. Request a Demo if you are not a customer and would like to learn more.