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Indonesian digital legal services provider, Hukumonline, has raised undisclosed funding in its follow-on Series A round, led by a media-focused private equity fund Emerging Media Opportunity Fund (EMOF)
FREMONT, CA: An Indonesian digital legal services provider, Hukumonline, has raised undisclosed funding in its follow-on Series A round, led by a media-focused private equity fund Emerging Media Opportunity Fund (EMOF). The entity is observed to have invested in the company before 2017.
The company says that the funds acquired will be used as the capital to develop multiple products, upgrade the existing ones on offer, and to grow its subscriber base.
Since its inception in 1999, the legal tech company provided freely accessible legal information to the general readers and paid premium content to the enterprises.
The company headed by a group of legal practitioners and young law reform activists have focused Hukumonline’s attention on select products and services that include a news website, an integrated electronic legal database, and the organization of seminars. These events hosted by the company facilitate discussions on new laws and regulations.
“The Hukumonline team continues to develop innovative digital media products and services that are highly valued by the country’s legal and business communities, as well as the general public,” said Mohamed Nanabhay, deputy CEO at Media Development Investment Fund (MDIF). “This investment will enable the company to improve its offering still further, through both new product extensions and product improvements.”
The legal tech company, founded in the period of law reforms, has contributed to legal education by initiating the provision of free education material and enlightenment to the general public, opening their minds by enabling free access to the world of law in Indonesia. By facing the era of technology disruption, the company aligned itself to the change as a reg-tech organization that provides the most comprehensive, aggregated, and trusted legal products and services by applying and utilizing technology. By 2019, Hukumonline’s clientele comprised of 780 clients, which included companies, law firms, and government agencies.
A recent report stated that there are 88 registered legal tech organizations in Southeast Asia, where Singapore and Indonesia are dominated by 25 and 21 startups, respectively.
EMOF is a private equity firm managed by MDIF, a not-for-profit investment fund that disperses debt and equity financing to independent media companies. The fund claims to have provided US$227 million in affordable-financing to 117 media companies in 41 countries.
See also: Top Legal Technology Solution Companies