Arcade Receives Initial Funding from SOSV

Educational technology startups (edutech) Arcademies announced seed funding of SOSV, a venture capital based in the United States. No mention of the amount of funding received, he only said that he would use this additional capital to make the company more aggressive in acquiring course partner partners.

Established since 2018, Arcade offers a wide selection of online courses related to vocational or expertise. Learning activities are organized by partners of verified course institutions.

So far they have had 50 classes attended by about 25 thousand students. Target in 2020, they want to increase the scope of the course to 200 classes through collaboration with 150 partners. For users, it is expected to increase to 200 thousand people.

"In 2019 yesterday we managed to grow 1400% YoY in GMV. Product market fit we are getting stronger with so many students in high-priced online course classes around IDR 1 million. In addition we also launched the first version mobile app Android and iOS are instantly adopted by users quickly. Whereas daily active users It's at 4000+," said Arkademi CEO Hilman Fajrian.

Hilman further explained, with this funding, his party will try to grow the business by increasing the scale of operations, starting from the line of market penetration, user acquisition, to product development.

"In terms of technology, we will release mobile app the latest version in March which is a big jump compared to the current version. With app latest version later, learning experience online become richer, more mobile-oriented and better adapt to the quality of connectivity in Indonesia," continued Hilman,

In Indonesia Arkademi is in the same segment as Udemy, Skills Academy from Ruangguru, Kode.id and several other players. For consumers, it is certainly interesting, because there are more choices. However, for businesses, one of the challenges is ensuring the quality and features of the learning presented.

Another challenge that is in the spotlight of the party Arcade is the number of teachers who are not familiar with online mechanisms and the use of qualified technology. There has to be something to help motivate teaching professionals and digitally produce content.

In addition, continuous development is needed to find the right technology for video consumption, in this case what Arkademi applies is technology auto bitrate streaming (ABS).

"In our opinion 2020 is the beginning of the industry edutech enter the market mainstream -- which according to our prediction will play mainstream in 2022. In addition to the emergence unicorn from edutech in the near future, also due to the increasing adoption of technology in the education sector by Minister Nadiem Makarim. So, new players edutech More and more national markets will emerge and investment in this sector will be even greater," Hilman concluded.