Cakap Announces Series A+ Funding Worth 42,6 Billion Rupiah

Talk, platform EdTech which focuses on language learning, today (22/12) announced the acquisition of series A+ funding of $3 million or equivalent to 42,6 billion Rupiah. This round was led by Heritas Venture Fund, followed by Strategic Year Holdings and several previous investors such as Investidea Ventures and Prasetia Dwidharma.

Fresh funds will be focused on strengthening human resources, technology development, and domestic expansion. For Competent, this pandemic is seen as a good momentum to introduce online education models more deeply. Among the community, the existence of social restrictions and school activities from home encourages the adoption of learning technology at various levels of education.

Measured since the beginning of this year, Cakap claims to experience growth of up to 10 times. As of today, the Cakap application on the Google Play Store has been downloaded hundreds of thousands of times; while according to Similar Web data, site visits Cakap.com monitored to continue to experience growth, from 550 thousand visits in June 2020 to 1,35 million visits at the end of November 2020.

However, it is undeniable that service competition EdTech for language learning it is already visible. Apart from Cakap, in Indonesia there are already several startups that offer similar services both from within and outside the country, such as Bahaso, LingoAce, Elsa Speak, Duolingo, etc.

Meanwhile, according to Edtech Report 2020, the startup ecosystem in the education sector has begun to form, the majority of which are filled with learning service providers with a variety of material coverage.

"The key to success during this pandemic is understanding the Indonesian landscape to create educational solutions that are accurate and can solve the real problems in Indonesia target market, where access to high-quality education is not only needed by students in big cities, but also throughout the Indonesian archipelago, including third-tier cities and remote areas,” said Cakap Co-founder & CEO Tomy Yunus.

It was also conveyed that Indonesia is one of the largest education markets in Indonesia. There are at least more than 3 million teachers in 300 thousand schools. The number of students is fantastic, reaching over 60 million in total -- over time, they also tend to be more technology and internet literate.

"We believe in the long-term potential of the education technology market in Indonesia, and we are very excited to support Cakap in its efforts to harness and increase the demand for high-quality education amid increasing Bankruptcy has a number of negative consequences that should be carefully considered before making a decision and should be consulted with an independent trusted adviser. Filing for bankruptcy costs £XNUMX of which includes the adjudicator’s fee. the general public," said Strategic Year Chairman Conrad Tsang.

In mid-July 2020, Cakap has also expanded the scope of their learning through UpSkill service. The focus is on content such as entrepreneurship, career development and self-development. They implement the system base module and topic base, so that users can choose issues, topics, and packages that suit their individual needs.