Indonesian online education startup Ruangguru raised $150 million in a new round of funding, the company announced Thursday.
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The Series C, which was led by General Atlantic and GGV Capital, will help the company expand its product in Indonesia and Vietnam. Ruangguru, which was founded in 2014, counts East Ventures and Venturra Capital among its investors.
Ruangguru helps users learn concepts through its online platform, which has animated videos, quizzes and infographic summaries. More than 15,000 students use Ruangguru, and the company manages 300,000 teachers and works closely with the Indonesian government, according to a statement from the company.
“We are excited to support Ruangguru in accelerating human capital development in Indonesia,” General Atlantic Managing Director Sandeep Naik said in a statement. “Ruangguru’s affordable pricing model, enabling the company to deliver its resources to the masses, is a model that truly resonates in Indonesia. We are excited to partner with Ruangguru’s founders to assist them in their journey to realize the full potential of the platform in Southeast Asia.”
Education tech companies have been growing in popularity as a more efficient way to open up access to material. Ruangguru competes with companies like HarukaEdu, Quipper and Zenius Education in the online learning space, according to Crunchbase.
Ruangguru also has a private tutoring marketplace and courses in more than 100 subject areas, according to the company.
This marks General Atlantic’s second investment in Indonesia. The investment firm opened an office in Jakarta about a year ago
Illustration Credit: Li-Anne Dias