Indonesian media startup IDN Media today announced that it has received an undisclosed Series A led by North Base Media, with participation from GDP Ventures, East Ventures, and MNM Creative.
With the goal to become the “forefront news portal for the Millennials and Generation Z,” the Surabaya-based company plans to use the fund to accelerate growth for its news portals IDNtimes.com (a general news portal) and Popbela.com (a women-focussed news and lifestyle portal), as well as its online video production house IDNtv.
IDN Media is also looking forward to develop the IDN Creative team by building an automated ads platform called IDN Ads that will help brand partners create a more effective and strategic brand campaign.
“One of the most amazing thing about IDN Media is that they rely on data and the latest technology in creating its content. IDN Media has also proven that they are the forefront media company for the young generation. We are very happy to be able to take part in this partnership. We also believe that under the leadership of Winston Utomo and William Utomo, IDN Media will be able to grow rapidly,” according to Sasa Vucinic, Managing Partner at North Base Media, in a press statement.
Prior to investing in IDN Media, North Base Media had also invested in Philippine-based Rappler.
IDN Media was founded in Surabaya in 2014 by brothers Winston and William Utomo.
“This is a very interesting era for the media industry, where social media, mobile and the digital have changed the way people consume content. We believe that IDN Media will become the digital media of the future. Therefore, we are excited to work with North Base Media, GDP Venture, East Ventures and MNM Creative in building the media sector in Indonesia,” said Winston Utomo, CEO and Editor-in-Chief, IDN Media.
Image Credit: IDN Media