ID edtech firm scores funding to develop blended learning services

(From left) Tomy Yunus, Cecillia Ong, and Jonathan Dharmasoeka of Cakap’s leadership team / Photo credit: Cakap

The edtech industry has had a rocky time lately. The past year has seen thousands of employees laid off in this segment across India, Southeast Asia, and China. In Indonesia, Zenius, Ruangguru, and Binar Academy are among the companies on this list.

However, Cakap has managed to avoid efficiency measures such as downsizing since its launch – and it even raised new capital.

Funding details

• Funding amount: Undisclosed
• Other investors: MDI Ventures, Heritas Capital
• Stage: Series C1
• Source

This round has brought Cakap’s valuation to over US$100 million. With over 3 million students using its platform, it has also managed to remain EBITDA-positive for three consecutive years.

Cakap will use the fresh funds to develop a blended learning approach, allowing students to study online and offline. The startup currently offers upskilling and language-learning courses for children and adults through recorded videos and live sessions.

Along with the fundraise, Cakap has recently appointed new leadership, naming Jonathan Dharmasoeka as chief financial officer and Cecillia Ong as chief operating officer.

More details