Cakap bags US$3M in Series A+ funding
Indonesia: Cakap, an Indonesian online language learning platform, announced it has raised US$3 million in a Series A+ funding round. The investment was led by Heritas Capital. Participating investors included Strategic Year Holdings and existing investors Investidea Ventures and Prasetia Dwidharma.
As per a press release, the fresh funds will be used to expand its team, improve its technological solutions, and grow its business across Indonesia.
Established in 2o13, Cakap develops online learning applications enabling two-way interaction between students and professional teachers through video calls and text conversations. The edutech startup claims it achieved profitability this year and its student numbers have grown 10 times since the beginning of the year and 30 times compared to the same period last year.
“Our solution solves the problem of the lack of access to high-quality education, not only for students in the big cities but also for the whole of Indonesia, including third-tier cities and remote areas. We are excited to be part of the digital learning transformation in Indonesia, increasing access to high-quality education and elevating people’s lives in the long run,” said Tomy Yunus, Co-founder, and CEO of Cakap.
