Aditya Hadi Pratama · · 1 min readIndonesian edtech firm scores $10m series B funding
Cakap, an Indonesia-based edtech firm, has raised US$10 million in a series B round co-led by Heritas Capital and Centauri Fund – which is backed by KB Financial Group’s KB Investment and Telkom Group’s MDI Ventures. The fundraise also saw participation from KB Investment.
Photo credit: Cakap
Founded by Tomy Yunus and Yohan Limerta in 2013, Cakap provides online language courses for adults and kids in Indonesia through recorded videos and live sessions. Previously called Squline, the company said that it has been profitable for the last two years.
The edtech firm has acquired 1.5 million students to date, with its active student base experiencing a 500% year-on-year growth. It has also expanded to the B2B market, having already onboarded more than 250 clients. These students and clients are served by Cakap’s network of over 1,000 teachers across Southeast Asia.
The company plans to use the fresh funds to make its learning journey more personalized, as well as for market expansion.
See also: The key players in Indonesia’s promising edtech industry
A year after the company was founded, Cakap got an undisclosed amount of seed funding from Prasetia Dwidharma. It was followed by a series A+ round in 2018 that was led by Investidea Ventures, and a Heritas Capital-led fundraise in 2020.
Editing by Collin Furtado and Lorenzo Kyle Subido
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