Ruangguru, an Indonesian EdTech startup just declared of a $150 million Series C funding round which has led by global investment firms General Atlantic and GGV Capital, with some new investors. DealStreetAsia reported about the raise of fund around $100 million earlier of this month. It upholds the biggest round secured by a Southeast Asian EdTech company, and secures the Ruangguru’s position in education sector as a leader.
Ruangguru first started as an online tutor marketplace in 2014 but by time it has management system for learning including learning videos, online exams. Currently 300,000 teachers and over 15 million students are involved in it. Ruangguru has been established as a leading EdTech in Indonesia and expanded to Vietnam under ‘Kienguru’.
Ruangguru plans to join an education company ecosystem after securing the investment from General Atlantic and GGV Capital.
General Atlantic’s education players list includes Byju’s, Hotmart, Arco, Open Classrooms, dan Little Golden Star, while GGV Capital has invested in FengBian, HuoHua, ZuoYeBang, XiaoBu, Lambda School, and LiuLiShuo before.
General Atlantic has invested in another deal which was with PT MAP Boga Adiperkasa in Indonesia, after they had opened an office in Jakarta, Indonesia in 2018. According to General Atlantic managing director, they expect to leverage experience in technology enabled education to enhance the expansion of Ruangguru. The co-founder along with executive director Belva Devara believes that General Atlantic and GGV Capital both realize the vision and significance of this education business and would help to accelerate the mission.
The company wants to focus to build a comprehensive curriculum using AI-driven teaching technology, in future.