EdTech Cakap Secured Total Funding of US$ 7.5 Million, 4.5 Million Students Benefited, up to 2023

In 2023, Indonesia’s Edtech Cakap consistently recorded a net profit for four consecutive years. All core business lines–Language, Upskill, and Business segments– experienced positive growth, with a total cumulative increase in the number of students by 50%, reaching 4.5 million students by December 2023 (YoY). In line with student growth, the number of educators at Cakap also increased by 27.78% to 2,300 in 2023.

During 2023, the company completed a Series C funding of USD 7.5 million, supported by reputable investors such as MDI Ventures, Heritas Capital, and several conglomerates. Donald Wihardja, CEO of MDI Ventures, expressed that by observing Cakap’s achievements thus far, MDI Ventures is optimistic about the growth through the positive impact that Cakap continues to bring to the society in the future. “As investors, we also see Cakap’s ability to continue innovating and proving its capacity as an edtech startup in Indonesia that remains competitive amidst the current market situation,” stated Donald.