Codemi Plans Regional Expansion, Markets Learning Management System for Corporates

Codemi, a startup engaged in the learning management system (LMS), revealed its plans to expand to the region in the near future in order to market its products to large-scale corporate circles.

However, Codemi's Founder and CEO Zaki Falimbany said the plan would be implemented after the company obtained its initial investment fundraising. He is optimistic that the LMS product developed by Codemi will allow the company to expand instantly to the region because it has a fairly large market share there.

"Yesterday we were still focused on the domestic market. Because our business is B2B, so it is very possible expand instantly to the region. The objective is to Southeast Asia. When we want to determine it [regional expansion], when we need [finding investors] we will definitely start looking for it," he explained, Tuesday (6/3).

So far, continued Zaki, since Codemi was first established in 2013, it has never received investment from outside parties. The funding so far has come from clients who are interested in using Codemi products and pay an advance to produce them.

From a business model perspective, Codemi has started implementing monetization from the start. The income received by Codemi is calculated on a per employee account that logs into the Codemi system. The company will also sign a contract with Codemi for at least one year.

"Because we are fortunately B2B, we can't be rich in e-commerce which has to be subsidized. From the start, we have to monetize. no bisa raised. That's why we have profitable and I want it to be faster because in terms of turnover, it's pretty good."

Develop product

Along with its expansion plans, Codemi began to expand its penetration in the Indonesian market by launching the Codemi Learning product. This is a -based learning management program cloud which enables companies to develop Corporate Digital Academy for employee and partner training.

This product is expected to provide solutions for large-scale companies to manage training programs better, scalable, can be done anywhere and anytime. Thus the company can improve the effectiveness and efficiency of business work performance can be fulfilled.

In Codemi Learning, there are learning features that can be tailored to the needs of the company, such as: online training (users can access learning modules at any time), learning plans (planned learning series program for employees).

Then, Gamification (to motivate employees with rewards based on activities in the system), and reports and analytics (measured employee progress reports based on training results).

"This product was born because there were challenges in terms of clients who are now starting to realize the benefits cloud. Previously they were very afraid because employee data was not stored on company servers. But over time, they start to realize because turn over employees are very high while conducting online training requires high bandwidth because there is video streaming."

For employee data protection, Codemi utilizes features single sign on combined with layered security. So every employee who wants to login to Codemi must have an employee ID because it uses the company system. Codemi only stores employee ID, while other data will be fully submitted to the company, including the results of the report.

Not only for large corporates, Codemi is also designing other products for SME and retail scale companies to expand market segments. According to Zaki, the two products will be launched within this year.

Had a pivot in 2015

Actually Codemi is a company that was born during the Founder Institute incubation program which Zaki participated in in 2013. However, at that time the company was still using the business model. massive open online courses (MOOC), but it doesn't work.

Finally decided to change the business model when Zaki's partner wanted to borrow Codemi software for employee training. However, the partner had difficulty evaluating which employees had participated in the training and which had not.

"In early 2015, we finally pivoted to become an LMS. It was also supported by the results of our survey to HRD from 30 companies. We asked them if they needed to manage employee training programs. From what we asked, only three companies used it and all of them were from abroad. There are two companies that have not used it, finally decided to use our product."

So far, Codemi has less than 10 companies as its clients. The average comes from e-commerce companies, finance, automotive, online transportation and so on.

Last year, Codemi recorded more than 1 million registered users. A total of 1,5 million trainings were successfully completed by users with a total learning time of 375 hours a year.