Indonesia learning platform, Ruangguru, completed the Series C funding worth of US$150 million from General Atlantic Indonesia (GAI) and United States’ GGV Capital, said the management on Thursday (Dec 26). Existing investors and a number of new investors also participated in the round. The CEO Belva Devara explained they will use the funding to develop products and services in Indonesia and Vietnam. Earlier, Ruangguru had received funding series B from UOB Venture in 2017.
Beside Ruangguru, GAI eyes investment in other global education company such as Byju’, Hotmart, Arco, Open Classrooms, and Little Golden Star. Previously, the company which opened its Jakarta’ branch in 2018 also injected investment to another Indonesian company, MAP Boga Adiperkasa (MAPB).
Ruangguru has diversified products to elementary, junior high school and senior high school. Also, there are application for tutoring, tutoring services, professional training material and management platform for the company.
To date, the firm has 4,000 employees and provided access to 300,000 of private tutor that attracted more than 15 million registered users. In the next one or two years, the platform sets the target to become unicorn with value more than $1 billion.