Hukumonline Announces Series B Funding from Media Development Investment Fund

Entering his 24th year, developer regulatory technology (regtech)online announced the acquisition of series B funding from the Media Development Investment Fund (MDIF). There is no mention of the nominal investment given. Fresh funds will be focused on supporting further product and service development in the legal sector.

MDIF itself is a non-profit funding institution based in New York that collaborates with independent media from all over the world. Since 1996, MDIF has disbursed $311 million in funding to 150 media companies in 47 countries.

Previously in 2019, Hukumonline also received this series A pendanaan funding for an undisclosed amount from the Emerging Media Opportunity Fund (EMOF).

Since its debut in 2020, Hukumonline has provided a platform online which is a reference for legal and regulatory practitioners in Indonesia by providing easily accessible reference regulations. In addition to the directory's free services, the company also provides premium solutions to help users get customized legal analysis and review services.

Apart from that, Hukumonline also provides a series of services legaltech such as the Regulatory Compliance System platform, Document Management System, business licensing services, and legal consultations. It is claimed that currently there are thousands of B2B clients consisting of companies, well-known law offices, government institutions and universities.

"The legal compliance system which is one of Hukumonline's superior products, namely the Regulatory Compliance System (RCS), rcs. Hukumonline.com, has been adopted by various large companies in Indonesia, within three years after its launch," said Hukumonline CEO Arkka Dhiratara as quoted in official statement.

Further development

Hukumonline said it is developing new products that integrate capabilities generative A.I. This is claimed to be the first in Indonesia, to make it easier for practitioners to get more relevant and faster information. In fact, the initial iteration of this service was introduced in April 2023, via the ask. Hukumonline.com page.

Apart from that, the company will also expand its Enterprise Solution line. One of them is to expand B2B clients with the hope of increasing growth up to 4x.

"Hukumonline is a pioneer in opening wide access to high-quality legal information and analysis in Indonesia, including its innovation in the use of AI and the development of various new products. "We see this potential for further growth, and MDIF is ready to collaborate more closely with Hukumonline and support the team in achieving this target," said MDIF CEO Harlan Mandel.

Currently Hukumonline also has two sister platforms. Eazybiz.id and Justika.com. Easybiz.id is a platform that helps startups and MSMEs to obtain business permits. Temporary Justice is a platform online for legal consultation.