JAKARTA - Edtech startup Ruangguru has bagged US$ 150 million in a Series C funding round led by General Atlantic and GGV Capital. Other investors participating in the round included EV Growth and UOB Venture Management.
According to DealStreet Asia, the deal is the biggest round for an edtech startup in Southeast Asia, and will strengthen Ruangguru’s position as a leader in the edtech sector. In an official statement, the startup said it will use the fresh funds to support the development of its products and services in Indonesia and Vietnam.
“We believe [General Atlantic and GGV Capital] understand our vision of building a significant education business in the region that supports a larger purpose, and we expect the partnership to help us accelerate our mission,” said Ruangguru co-founder and Executive Director Adamas Belva Devara, who is also a special staffer to President Joko Widodo, on Thursday (26/12).
Ruangguru currently serves over 15 million students and manages around 300,000 teachers, with collaborations with various levels of the Indonesian government. This year the startup expanded to Vietnam under the brand Kienguru, supported by funds raised in a Series B round led by UOB Venture Management. (MS)