IDN Media, an Indonesian media platform, has secured an unknown sum of series D capital from Mayapada Group and KMIF, with East Ventures, OCBC NISP Ventura, Dentsu Group, and V Media Ventures also participating.
IDN Media secured US $23 million earlier this month, according to VentureCap Insights, bringing its worth to over US $318 million.
IDN Media, which was founded in 2014, is the parent company of IDN Times, Popbela.com, Popmama.com, Yummy, IDN Creative, IDN Event, and IDN Creator Network. Across its platforms, the media company has approximately 80 million monthly active users.
The firm was founded by Winston and William Utomo, brothers. EV Growth, Line Ventures, and a unit of Thai conglomerate CP Group invested roughly $15 million in the company in 2019.
The new financing will be used by IDN Media to expand its user base, enhance its technology, and execute strategic collaborations and acquisitions. “We have prepared several strategic initiatives to be executed as soon as possible,” William said in a statement.
