Indonesian bootcamp Hacktiv8 raises $3m pre-Series A led by East Ventures

East Ventures managing partner Willson Cuaca speaks at DEALSTREETASIA's Indonesia PE-VC Summit 2019 in Jakarta

Jakarta-based developer bootcamp Hacktiv8 has raised $3 million in its pre-Series A round led by East Ventures, according to a statement.

The round was also joined by Sovereign’s Capital, SMDV, Skystar Capital, Convergence Ventures, RMKB Ventures, Prasetia, and Everhaus.

Launched in 2016 by co-founders Ronald Ishak and Riza Fahmi, Hacktiv8 provides a solution to turn absolute beginners into job-ready web developers in 12 weeks.

As part of its programme, students learn JavaScript, Node.js, Vue.js, and Facebook’s React framework through hundreds of hands-on lab exercises.

Hacktiv8 claims to have close to 8,000 applicants and works with 250 hiring partners include tech unicorns like Tokopedia, Gojek, and Bukalapak. The list includes financial service companies such as Midtrans, Payfazz, Xendit, and KoinWorks.

The company plans to use the fresh funds to build more schools and offer the first Income Share Agreement (ISA) programme in Indonesia, an alternative to traditional student loans.

“Indonesia is one of the countries with a low number of engineers per million population.  To fill the talent gap of Indonesia’s burgeoning digital economy, developer Bootcamp such as Hacktiv8 is the only quick solution,” said Willson Cuaca, Managing Partner of East Ventures.

East Ventures, which has launched six funds in the last seven years, is one of the venture capital pioneers in Indonesia. Last August, East Ventures announced the close of its sixth fund at $75 million, more than double an initial $30-million target.

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.