IDN Media Gets Series C Funding Led by EV Growth

IDN Media today (08/1) announced the acquisition of series C funding led by EV Growth – a joint venture capital company East Ventures, Sinar Mas and Yahoo! Japan; devoted to advanced funding. Also participating in this round are True Digital & Media Platform (part of the Charoen Pokphand group, Thailand) and LINE Ventures. There was no information regarding the amount of funds that were successfully recorded.

This additional capital will be focused on by IDN Media to accelerate the growth of the platform through its strategy "nationwide hyperlocal", advancing product/technology offerings, and exploring strategic partnerships/acquisitions. Regarding strategic partnerships, in 2018 IDN Media provided initial funding to startups Print and collaborate with Indonesian rapper.

Founder & CEO of IDN Media, Winston Utomo, said that the Series C funding that was obtained was the beginning to start a long-term vision that had been owned.

"This Series C funding is an important milestone in the our trip. The mission to be the voice of millennials and gen Z is the work we are working on. We will continue to work very hard to become a company that has a positive impact on society," said Winston.

Meanwhile, another founder who is also the COO of IDN Media, William Utomo, said that the business growth in the past year was quite rapid, driven by a reliable team.

"In terms of business, in the last 12 months we have worked with more than 2000 brand to help grow their business by connecting with our audience. Going forward, we will continue to improve our product and technology offerings," said William.

IDN Media established on June 8, 2014 in Surabaya by the Utomo brothers. Currently IDN Media operates five digital business units consisting of four digital media (IDN Times, Popbela, Popmama, and Yummy) and three agency businesses (IDN Creative, IDN Event and IDN Creator Network).

Managing Partner of EV Growth Willson Cuaca said, "I knew IDN Media was going to be huge from the first day I met Winston and William. They are not only visionary, but also very strong in execution and operations. They have a large and loyal user base, and most importantly they have created a business that healthy and sustainable."

Kay Lim, Head of LINE Ventures also delivered his remarks. He appreciated IDN Media's significant growth in a relatively short time. He believes, together with LINE and other partners, IDN Media can revolutionize the media industry and become the largest digital media in Indonesia.