Indonesia-based online education platform Ruangguru has secured $150m in a series C round featuring EV Growth, the venture capital firm whose co-founders include conglomerate Sinar Mas and internet company Yahoo Japan.
Growth equity firm General Atlantic led the round, which included financial services firm United Overseas Bank’s UOB Venture Management unit and VC firm GGV Capital as well as undisclosed new investors.
Ruangguru has developed an online platform that offers access to tutors across a range of subjects in addition to professional training, skills and corporate training, through methods such as infographic summaries, quizzes, animated videos and practice tests.
Iman Usman, a Ruangguru co-founder who is also its chief product and partnership officer, said: “We focus on building a comprehensive curriculum, and most importantly, a clear and enjoyable learning experience using AI-driven personalised teaching.
“Currently, 80% of our students are from outside of Jakarta. This demonstrates the acceptance of our products and their effective distribution. We are proud knowing that what we do helps millions of students across Indonesia in pursuing their dreams.”
The company closed a series B round of undisclosed size in July 2017 that was led by UOB Venture Management and backed by VC firms Venturra Capital and East Ventures, the latter of which is also a co-founder of EV Growth.
Venturra Capital had led a series A round for Ruangguru in 2015 that was sized in the seven-figure dollar range. The series A also featured East Ventures, which had supplied an undisclosed amount of seed capital for the company the previous year.
