Indonesia’s Female Daily Network raises $1M in series A funding

Female Daily Network (FDN), one of Indonesia’s leading online beauty portals, announced today that it received US$1 million in series A funding from a group of investors led by Ideosource. Sinar Mas Digital Ventures and Jakarta’s new venture capital player Convergence Accel pitched in as well.

FDN will use the new funds to advance its web and mobile social platform, which combines content, community, and commerce to create a unique shopping experience for its 25 million target audience.

Since its inception five years ago, FDN grew by providing high quality editorial content and cultivating a user base through forums and reviews. Currently, FDN receives “several million monthly visits” and expects to exceed 100 million annual pageviews before the end of the year.

See: Indonesia’s Female Daily hit 70 million pageviews in 2013

“Our vision has always been about empowering women,” said Hanifa Ambadar, founder and CEO of FDN, in a statement. “Our dream is to see all Indonesian women connected to one another through Female Daily. We’re starting with beauty but we see many opportunities in the future as well […] partnering with these investors will widen our network and help take us further towards realizing that dream.”

“Female Daily represents the empowered Indonesian women where they have an open community to share knowledge, experience, network, and friendship,” said Andi S. Boediman, managing partner of Ideosource. “Women see beauty as a source of confidence to help them raise their self-esteem and unleash themselves […] FDN has the capability to be the ultimate source of insight and consumer behavior, which can help brands to create future campaigns and strategies.”

FDN’s position in Indonesia’s female audience segment could make it an attractive partner for multinational and local brands looking to capitalize on the archipelago’s billion-dollar cosmetics and beauty market.