Edtech Startup Capable of Presenting Positive Performance, Has Three Million Users

Startups EdTechCompetent presented a positive performance over the past year. In an official statement released today (21/2), Cakap Co-founder and CEO Tomy Yunus appreciated the consistency of his entire team by recording good financial performance.

“The company's focus lies on positive fundamentals and economic unit performance. Expansion into vocational education (TVET) and blended learning services (blended learning) as part of our commitment to building the nation is also the key to success in 2022," said Tomy.

Following are the company's business achievements:

• Three consecutive years of posting profits with positive EBITDA margins
• Revenue grows 10x over 2020-2022
• Has more than three million users, from the productive age group of 20-39 years spread across 96 of the total 98 cities in Indonesia
• Company revenue contributors: Language contributes 50%, then the rest is Upskill and Business
• Has more than 1.800 teachers coming from Indonesia, as well as countries in Asia Pacific and Europe
• Established more than 600 partnerships with educational institutions, companies, government agencies, and foundations. One of them, working with provider Telkomcel from Timor-Leste for providing learning programs from Portuguese to non-language skills.

Cakap's Chief of Business Jonathan Dharmasoeka detailed, from the Language segment, it was recorded that English courses were still the prima donna for its users. Then, followed by Mandarin, Korean, Japanese, and Indonesian. In addition, learning has now been developed from online to blended learning so that it is increasingly attractive to users. Meanwhile, for courses outside of languages, materials in agriculture, marketing, and those related to tourism are still available top three courses.

"Cakap, which has been registered as a Course and Training Institute (LKP) of the Ministry of Education and Culture and a Job Training Institute (LPK) of the Ministry of Manpower, has a stable rating of 4,9 on the Google Play Store and has provided impact one million learning activities through 487 materials divided into 17.000 language to vocational training modules," said Jonathan.

Tomy also concluded, "In order for this business to continue to provide benefits, Cakap always carries out the principles of sustainability by applying the three principles of the Sustainable Development Goals (SDGs), especially for points 4 (quality education), 8 (decent work and economic growth), and 10 (Reduced gap). We believe this is also the key for Cakap to continue to innovate and become a self-development solution for the nation's children."

Business landscape edutech

In Indonesia, business verticals such as Cakap are also run by Ruangguru which provides English Academy, and conventional players such as English First and Wall Street English. Meanwhile, skill improvement courses are also enlivened by a number of players, such as RevoU, Coursera, Kuncie, Udemy, Binar Academy, and many more.

DSResearch never reviewed the industry EdTech in Indonesia entitled "Edtech Report 2020: Transforming Education". Quoting from the results of Holon IQ research, they map out services EdTech into several categories: language learning, steam and coding, education financing, skills and jobs, higher education, verification, management and learning environment, higher education, and learner support. They also mapped 50 players EdTech significant in each category.

From this report, from a survey of 500 respondents, it was revealed that the type of service EdTech popular ever and most widely used by people is the Online Tutor. Whereas less than 20% of people who have used MOOC (Massive open online race). Based on gender, 71,3% of men had used online tutors, while 74,1% of women had used e-learning.

Half of the respondents under the age of 20 mostly used online tutors, while another age group had e-learning. About 50% of people mostly agree that service EdTech that have been used are easily accessible, the material is delivered well, according to their needs & budget, and the content is relevant.