East Ventures makes seed investment in Jakarta-based creative agency Flock

Visual of East Ventures homepage. August 2016

Indonesian venture capital firm East Ventures has led a seed investment into Jakarta-based full-service creative agency Flock.

Financial terms of the investment are undisclosed.

The VC firm – which maintains offices in Singapore, Jakarta, Tokyo, and San Francisco – has seen its global team lead investments and participate in numerous funding rounds in startup ventures across Asia and the US.

Flock is focussed on the convergence of above-­the-line (ATL) and below-­the-­line (BTL) creative advertising and marketing services including video content creation and influencer strategies. The investment will see the rollout of technology offerings that includes an automated influencer marketing platform by 2017.

Flock already counts C2C e-commerce platform Tokopedia amongst its client base, in a market that sees Indonesia leading global growth in terms of digital advertising and internet advertising.

Digital platform ASEAN Up reports that Indonesia has a a penetration estimated at 35 per cent as of 2015, with about 160 million Internet users in the country by 2020 – representing approximately 63 per cent of the population. In terms of media consumption, Indonesia has total daily screen minutes of 540 minutes/day, with mobile devices accounting for 291 minutes per day.

Table from ASEAN Up

According to East Ventures, this latest investment is aimed at enabling Flock to navigate Indonesia’s digital landscape and establish a niche for itself. East Ventures intends to leverage on its investment in Flock to aid early-­stage web ventures in their portfolio achieve faster growth within Indonesia, given the proliferation of smartphones, e-commerce and the growing digital landscape of Indonesia.

Indonesia remains one of the most attractive and lucrative markets for digital marketers, impacted by growing affluence, a larger middle class, growing digital literacy and increasingly urbanised populations. However, the digital marketing space is also highly competitive and crowded, given a diverse array of platforms.

Flock CEO Ivan Hady Wibowo, said, “I think the way we will benefit local startups is not so much about our technology, but instead the opportunity for them to have someone orchestrating the collaborative marketing effort between their companies and established brands or key opinion leaders. Most of the startups need brand awareness with a limited budget. With someone taking care of the collaboration effort, we can make it cost-effective.”

Also Read: East Ventures, Skystar Capital lead pre-series A funding in Indonesia’s Talenta

Indonesian agritech startup Eragano bags seed funding from East Ventures

Indonesia: Kargo gets funding from East Ventures, ANGIN angel investor

Indonesia’s iGrow gets seed funding from East Ventures, 500 Startups

Indonesia: Moka secures $1.9m series A funding from East Ventures

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.