Jakarta-based Hacktiv8, a coding bootcamp that transforms beginners into full-stake developers, has raised $3 million in a pre-series A round led by early-stage VC firm East Ventures.
The funding round was joined by Sovereign’s Capital, SMDV, Skystar Capital, Convergence Ventures, RMKB Ventures, Prasetia, and Everhaus.
Hacktiv8 aims to alleviate the developer crunch in Jakarta with the emerging trend of tech companies and improve the standard of web developers in Indonesia. The startup’s bootcamp model allows students to spend around 10 to 12 hours a day and five to six days a week learning for a period of roughly 12 to 18 weeks. Hacktiv8 offers full stack program (18 weeks), part-time program (evening class or weekend), as well as online program (3 months), and students have the option to choose the program according to their needs.
The company claims its students typically receive multiple job offers with an average gross salary of IDR11 million (roughly US$800) within two to three weeks of graduation.
“If our graduates get a well-paying job, we will earn a good return on our investment,” Hacktiv8 co-founder and CEO Ronald Ishak explained.
Hacktiv8 plans to use the fresh funds to build more schools and set up the first Income Share Agreement (ISA) program in Indonesia, providing an alternative to traditional student loans.
Emphasizing on the need of such developer bootcamp in the country, Willson Cuaca, Managing Partner of East Ventures, said,
“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.”
Hacktiv8 claims to have close to 8,000 applicants and collaborates with 250 hiring partners, including tech unicorns like Tokopedia, Gojek, and Bukalapak, and financial service companies such as Midtrans, Payfazz, Xendit, and KoinWorks. The company also works with corporations such as CIMB Niaga, Hana Bank, and Siloam for scholarship programs.