Binar Academy Reportedly Received 51 Billion Rupiah Pre-Series A Funding

Startups edutech focused on providing services bootcamp and class online "Binar Academy" certified is reported to have booked a pre-series A funding of $3,5 million or the equivalent of 51 billion Rupiah. Amount impact investors involved in this round, including iGlobe Partners, Teja Ventres, Cellar Capital Partners, Spaze Ventures, YCAB Ventures, and a number of others.

This investment continues to earn seed funding in April 2020 led by Teja Ventures with the participation of a number of investors including the Indonesia Women Empowerment Fund (IWEF—a fund that aims to create social impact and is jointly managed by Moonshot Ventures and YCAB Ventures), Eduspaze, The Savearth Fund, and several angel investors from WIND.

Regarding this news, we have tried to ask for comments from related parties.

Binar Academy Service

Twinkle has several business models, both in the B2C and B2B segments. For consumer learning services, there are three products provided. First, Binar Bootcamp, which is an intensive learning program related to programming and data analysis aimed at high school graduates and equivalent and professionals.

Graduates of this program are also distributed to technology companies that have joined Binar's Job Connect service. Quoted from the official website, currently they have graduated more than 3000 students and distributed more than 500 graduates to partner companies.

Second, Binar Insight which is a program webinar paid with speaker famous. The sessions presented were quite varied, ranging from UI/UX, web development, product management, to business intelligence ce. And third there is BinarGo, a learning service on-demand with interactive digital materials.

Binar also has B2B services targeting corporations. There are two services provided, namely for recruiting digital talent and a program to increase the capacity of technology talent through training/workshops.

Market competition

Services bootcamp has become a non-formal education option that is quite popular in Indonesia, especially when it comes to programming and technology demand higher than the company. Apart from Binar, there are several organizers bootcamp Similar ones that are already operating include Hacktiv8, Impact Byte, and Skilvul.

One of the interesting options they offer is the "Income Share Agreement", allowing students to first gain knowledge and then pay accommodation costs after earning income from their skills.

Globally, according to research conducted by Technavio, services bootcamp which focuses on programming material has the potential to generate market capitalization of up to $772,04 billion in 2021-2025 with a CAGR of 17%. The pandemic has also encouraged the adoption of this learning model, especially as a number of service developers have also provided fully accessible learning facilities online.

In an interview, Founder & CEO of Binar Academy Alamanda Shantika said, the combination of contemporary learning experiences, technology and community will produce learning experiences that are both interesting and impactful for students. Moreover, if you look at demographics, most of Binar's members are high school graduates, students and people who want to change careers (career shifter).

To increase business coverage, Binar also consistently increases engagement with educational institutions including the government, universities and vocational schools. Apart from that, Binar Academy will also collaborate with companies affected by digitalization to upskilling employees to bring it back into relevance.