15/11/2018 – Emtek Group, an Indonesian media conglomerate, said in its Q3 financial report that it has made a US$4 million investment in job marketplace company Qareer Group Asia.
The investment was made through Emtek Group’s investment arm KMK Online in September where the firm exchanged IDR 59 billion (about US$4 million) for 310,472 shares, which represents a 33.5 percent stake in Qareer Group Asia
Emtek operates free-to-air television stations in the country and has been investing since 2015. Its portfolio includes Kudo, Rumah.com, Rumahdijual.com, Bola.com. Karir.com, Hijup.com, Bobobobo.com, and Bukalapak.com
Headquartered in Singapore, Qareer Group Asia is a group of companies that oversees a number of services in the job marketplace.
Helmed by Veronika Linardi, the startup aims to eliminate the taboo of discussing salary and company reviews in the Indonesia job marketplace with two of the country’s widely recognized job listing portals: Qerja and Jobs.id under its operations.
Qerja is a website that allows Indonesian and Malaysian job seekers to share their salary details and workplace information publicly. It allows job seekers and employees to find transparent information about a company’s pay scale and hiring practices.
Prior to this funding, Qareer has bagged an undisclosed Series A funding round in 2015 from the SB ISAT Fund, a collaboration between SoftBank and local telco Indosat. The company, which also has operations in Indonesia and Malaysia, raised its seed funding from Kejora Ventures.
With this investment, the fresh capital will help Qareer Group Asia go up against incoming competition in the regional job marketplace industry.
Recently, Singapore-based job matching platform GrabJobs said it plans to raise S$5 million (about US$3.75 million) in a Series A round to fuel expansion to other Southeast Asian countries.
This news is published on Reuters.