Cakap Closes Series A+ Round Worth of 42,6 Billion Rupiah
Led by Heritas Venture Fund, participated also Strategic Year Holdings, Investidea Ventures, and Prasetia Dwidharma
Cakap, an edtech platform focused on language learning, today (22/12) announced the series A+ funding worth of $3 million or equivalent to 42.6 billion Rupiah. This round was led by the Heritas Venture Fund, participated also Strategic Year Holdings and some previous investors, including Investidea Ventures and Prasetia Dwidharma.
Fresh funds will be channeled to strengthening human resources, technology development and domestic expansion. Regarding Cakap, this pandemic is seen as a good momentum to introduce a more in-depth online education model. In the community, social restrictions and school activities from home encourage the adoption of learning technology at various levels of education.
Since the beginning of this year, Cakap is said to grow up to 10x. As of today, the application on the Google Play Store has been downloaded hundreds of thousands of times; Meanwhile, according to Similar Web data, Cakap.com visitors are to continue growing, from 550 thousand in June 2020 to 1.35 million in late November 2020.
However, the competition for edtech services for language learning is getting crowded. Apart from Cakap, there are several startups that offer similar services both from local and global players, such as Bahaso, LingoAce, Elsa Speak, Duolingo, etc.
Meanwhile, according to the Edtech Report 2020, the startup ecosystem in the education sector has formed progressively, the majority are filled with learning service providers with a variety of coverage.
DS Premium Content
Become a DailySocial.id Subscription, you can get unlimited access to discover the best minds of innovation and to perceive the finest tech journalism products in Indonesia. Learn more
Anytime access. But, only this article.
Rp 3k - 7k /Article
Unlimited access premium article.
Rp 150k - 1,033k