East Ventures, 500 Startups lead seed funding for Kaodim

Visual with company's brand logo

Kaodim, a Malaysian online marketplace for consumers seeking service professionals (e.g plumbers, decorators, movers, yoga instructors, or pest control specialists) has successfully raised $550,000 in a seed round led by East Ventures, with participation from other venture capitalists (VCs) like 500 Startups.

Founded by the Jeffri Cheong and Choong Fui-Yu, both former practicing lawyers, they launched Kaodim in November 2014. In December 2014, they had approximately 500 vendors on board, with 400 job requests made and 1300 quotations returned. According to Cheong, this has risen to an average of 120 to 150 job requests per day as of February.

This rapid growth encouraged Wilson Cuaca, co-founder of East Ventures, to invest in Kaodim.

Commenting on the round, Cuaca explained: “In a short period of time, they actually made the product work and nailed down the problem. The team is also decisive and responsive – they make decisions fast and know what they want.”

Expressing happiness in collaborating with East Ventures and 500 Startups, Choong added: “We like the approach the investors took with this round of fundraising, and in business generally – think big, focus on the important stuff, and move quickly.”

Kaodim’s development roadmap calls for it to expand its portfolio of services it caters to on its platform. This expansion will be leveraged on the desire of professional service providers to expand their market reach and presence.

Choong added: “We can’t wait to bring this technology to music teachers, party planners, wedding MCs, and the thousands of other services across Southeast Asia that have not experienced much technological innovation as far as getting customers is concerned.”

While some had expressed concerns over the early state of the fundraising, Cheong said that the traction he observed persuaded him otherwise. With some businesses on their platform acquiring “…50 new clients in three months…”, Cheng chose to leverage on this rapid growth to seek additional seed funding in order to scale and expand.

Prior to regional expansion in Southeast Asia, Cheong plans to establish strong market leadership in the Malaysian market, using it as a foundation for regional expansion. Funds from the seed round will be in investing in acquiring more local users and service providers, as well as talent acquisition.

Related Story: Malaysia: A strategic hub for expanding in SEA

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.