Ruangguru Receives 800+ Billion Rupiah Funding, Led by Tiger Global Management

Ruangguru edtech startup announced $55 million (over 800 billion Rupiah) funding led by Tiger Global Management. This is a follow on round of the series C announced in 2019, led by General Atlantic and GGV Capital.

GGV Capital also topped up in this latest round, followed by the ranks of Ruangguru's early investors, East Ventures, Venturra Capital, UOB Venture Management, and others. The additional fresh funding is said to accelerate Ruangguru's business expansion in three countries (Indonesia, Vietnam and Thailand) in the K-12 segment (SD, SMP, and SMA) and non-formal education.

In an official statement, Tiger Global Management's Partner, Evan Feinberg said, as the leading edtech player in Southeast Asia, Ruangguru is ready to further transform and enhance the landscape for K-12 and adult learning. "We are very pleased to be partnering with them as they continue to innovate solutions for this market and advance high quality education for students of all ages," he said, Monday (19/4).

GGV Capital's Managing Partner, Jixun Foo added, "Our continued investment in Ruangguru proves our confidence in their commitment to advancing quality education for all [..] We will continue to support companies with a long-term impact on our future through educational technology."

Edtech is GGV's premier global investment thesis with portfolio companies such as Zuoyebang, Vedantu, HuoHua, and LiuLiShuo (NYSE: LAIX).

Ruangguru's Co-Founder and CEO, Belva Devara expressed his high enthusiasm for the entrance of Tiger Global and with the sustainable support from GGV Capital. “We share the same vision of the world with access to quality education for all. Ruangguru has continued to have a strong growth trajectory in the past year and this investment will help us grow our business further and make a significant impact on education, through technology,” Belva said.

Product development at Ruangguru