Heaptalk, Jakarta — Indonesia regulatory technology (RegTech) company Hukumonline bags Series B funds for an undisclosed amount from the Media Development Investment Fund (MDIF).
Prior to this investment, Hukumonline obtained a Series A round for an undisclosed amount from the Emerging Media Opportunity Fund (EMOF). With the latest injection, this legal-tech company will allocate its injection to boost marketing and sales capabilities, specifically in the enterprise solution product.
The company provides technology to increase the productivity of legal practitioners and academics. For more than two decades, Hukumonline company has provided an online platform as a reference for legal and regulatory practitioners in Indonesia by providing easily accessible regulatory references.
“The legal compliance system is one of Hukumonline’s superior products, namely the Regulatory Compliance System (RCS). Multiple enormous Indonesian companies have adopted this system three years after its launch,” said the CEO of Hukumonline, Arkka Dhiratara.
He observed numerous leading Indonesian companies have used the RCS system, which has proven effective in this legal compliance system and the high market demand for similar products.
Founded in 2000 by several leading legal practitioners and lawyers in Indonesia, Hukumonline has served as the archipelago’s primary reference for law and regulation. This company also provides legal tech services such as the Regulatory Compliance System platform, Document Management System, business licensing services, and legal consultations.
The company has also launched an initial iteration of its AI implementation through ask.hukumonline.com as of April 2023. As a part of further AI adoption, the company will also introduce several broader generative AI-powered features to increase efficiency in presenting legal information. During its 24-year journey, the company has had thousands of clients from companies, well-known law offices, government institutions, and universities.
As additional information, MDIF is a non-profit funding institution based in New York that collaborates with independent media worldwide. This institution has disbursed funding worth US$311 million to 150 media companies in 47 countries since 1996.
“This funding is expected to help Hukumonline in unlocking comprehensive access to high-quality legal information and analysis in the archipelago, including innovative use of AI and development of new products. We notice the potential for further company growth.” CEO of MDIF, Harlan Mandel, affirmed.
