Indonesia’s online media company IDN Media secures Series C funding round from EV Growth

8

IDN Media’s target readers include Millennials and Generation Z age group

IDN Media, a multi-platform online media company based in Indonesia, today announces that it has raised a Series C funding round led by EV Growth. EV Growth is a joint venture of East Ventures, Sinar Mas, and Yahoo! Japan.

Participating in the round is Charoen Pokphand’s company True Digital & Media Platform and the corporate venture arm of LINE Corporation, LINE Ventures Global Fund.

Also Read: Southeast Asia-based early stage venture fund East Ventures appoints its first female partner

IDN Media has stated that the Series-C investment will be focussed towards readers growth acceleration. It will begin by going local as the company believes will help it advancing its product offerings and technology.

IDN Media was founded in Surabaya, Indonesia in 2014 by brothers Winston and William Utomo. The company’s mission is to democratise access to accurate and positive information that seeks to represent the voice of Millennials and Gen-Z in Indonesia.

As of today, IDN Media operates its main online media IDN Times, the women-focussed Popbela.com and mother and parenthood content on Popmama.com. It also boasts a cooking how-to video channel called Yummy TV, a creative solution named IDN Creative, an event management service IDN Event, and influencers management platform IDN Creator Network.

IDN media says is has amassed 50 million monthly unique users on its platforms.

“While this Series-C investment an important milestone in our journey, the mission to become the voice of Millennials and Gen Z remains a work in progress. We will keep working hard to become a company that brings positive impacts on the society,” said Winston Utomo, Founder and CEO at IDN Media.

Willson Cuaca, EV Growth’s Managing Partner also backed the statement. “IDN Media has a loyal user base, and more importantly, it has created a healthy and sustainable business,” said Cuaca.

Also Read: 200M people and zero Unicorns? Here’s to building the next great startup in Pakistan

“Moving forward, the focus is to keep improving our product and technology offerings to help connect more brands to our audience, and ultimately to help them grow their business. 2019 will be a very exciting year for us,” said William Utomo, Founder and COO at IDN Media that claims to have worked with over 200 brands in 2018 through its creative channels.

Image Credit: IDN Media

The post Indonesia’s online media company IDN Media secures Series C funding round from EV Growth appeared first on e27.

Source: E27