By Ardi Wirdana
The company raised over Rp 630 billion ($45 million) in its November 2018 IPO and followed it up with a 30% stake in startup Pawoon.
The latest funding will help the company further expand into key Indonesian cities, launch new verticals, enhance sales and marketing efforts, and hire new staff.
Qlue CEO Rama Raditya said the funding from MDI was “mostly strategic” and will be used to hire talent in the field of artificial intelligence.
Resume Ranks, which has raised $500k from angel investors, is planning to launch in parts of the US, Indonesia, Thailand and Singapore in the second quarter of 2019.
The stock has doubled in a month on deal speculation. Citigroup Inc. says a merger would make no sense for Indonesia’s PT Indosat.
The funding comes from new investors Korean Teachers’ Credit Union (KTCU) and the CITIC Securities One-Belt-One-Road (CSOBOR) Fund, and Warburg Pincus.
Before joining General Atlantic, Saboo was a Business Development Director at CT CORPORA for over 12 years.
The Jakarta-based startup was part of the fourth batch of Ideabox accelerator. Andalin raised its seed round in January 2017 from Mountain Partners.
The fresh funding will help the company scale up its operations and will also be used to disburse loans to the country’s SMEs.
Indogen’s portfolio includes Malaysian used car platform Carsome, Indonesian travel platform Travelio and Philippine HR tech platform Venteny.