Indonesian edu-tech startup Ruangguru has today announced raising of $150 million in its Series C funding round. The financing round was led by Global Atlantic and GGV Capital, along with the participation of other investors.
With this fresh capital and round, the company is now all set to appoint General Atlantic Indonesia Managing Director Ashish Saboo as its commissioner. The funding will help the company to expand its operations to Vietnam where it is currently operating under Kien Guru brand.
Commenting on this funding round, Iman Usman, Founder and Director of Products and Partnership at Ruangguru, said: “We are committed to building a comprehensive curriculum and implementing artificial intelligence in developing fun and easy to understand learning experience. Today, 80 per cent of our users are based outside of Jakarta. This shows that our products are widely accepted and evenly distributed.”
Ruangguru was founded by Belva Devara along with his partner Irman Usman in 2014. The company now caters to more than 15 million students and 300,000 teachers across Indonesia, providing them with educational animated videos, quizzes, infographic summaries and mock tests.
The company is claiming to manage over 300,000 teachers and says that it is working closely with the Indonesian government. Prior to this round, in 2017, the company had secured an undisclosed Series B round led by UOB Venture Management.
While this is General Atlantic’s second investment in Indonesia, it has a few other education companies in its portfolio, including India’s Byju’s, Hotmart, Arco, Open Classrooms and Little Golden Star.