Indonesia’s EdTech firm Ruangguru has raised US$55 million in a funding round led by Tiger Global Management along with participation from GGV Capital. With this fresh funding, the EdTech major plans to grow its learning management system in Vietnam, Indonesia, and Thailand.
The fresh funding has come just after a year the firm closed a US$ 150 million funding deal that was led by Global Capital and GGV Atlantic.
With strong financial backing and expertise in the education industry, Ruangguru plans to expand its products and team further. The EdTech platform aims at providing a world-class offering of educational products by leveraging technology to offer better access of education to millions of learners in Southeast Asia.
The firm started as an online marketplace for private tutors has diversified since then into offering a Learning Management System. The platform enables the teachers to create content and assign work to school students. Ruangguru also has an exam practice feature on its website and mobile app that according to company is the ‘Uber of tutoring service’.
The startup had expanded to Thailand in 2020 by launching StartDee after rolling out KienGuru in Vietnam in 2019. Ruangguru also introduced new features such as an AI-powered “homework solver” Roboguru that includes user-generated content and photo search. The company has recently launched a live teaching class with Cambridge Curriculum called the English Academy for K-12 students. The EdTech firm’s Skill Academy that offers courses such as digital marketing and basic programming has been used by over 3 million students within one year of its launch.
Founded in 2014 by Adamas Belva Syah Devara, Imran Usman, Muhamad Iman Usman, Ruangguru is one of the largest and comprehensive education technology company in Indonesia. The startup also offers subscription learning videos along with on-demand tutoring services, private tutoring, and online exam module.
The startup has served more than 22 million users to date and over 300,000 teachers work on this platform. The company had launched various programs during the pandemic including a free online school which has been used by 10 million students. It also offered a free access to a Learning Management Tool for teachers called Ruangkelas which has been used by thousands of schools in nearly 480 districts across Indonesia.