27 Dec 2019
Posted in Technology
Successful fundraising paves way for Ruangguru to become edtech leader in Southeast Asia, says GlobalData
Following the news that Indonesia-based education technology (edtech) startup Ruangguru raised US$150m in Series C funding;
Aurojyoti Bose, Lead Analyst at GlobalData, a leading data and analytics company, offers his view:
“Edtech is a hotbed for innovation in emerging countries and investors are seeing it as a promising area. However, only a few edtech companies such as HarukaEdu and Topica in Indonesia and Southeast Asia have been successful in raising sizeable funding in 2019.
“Ruangguru is one of the leading edtech companies in Indonesia with more than 15 million users and 300,000 teachers catering to about 100 subject areas. The US$150m funding, led by global investment firm General Atlantic and venture capital company GGV Capital, is one of the top fundraisings among edtech start-ups in Southeast Asia and is likely to help Ruangguru to retain its market leadership in Indonesia. GGV Capital and General Atlantic have already invested in edtech startups such as Hotmart, Byju’s, Open Classrooms, Huohua Siwei, ZuoYeBang and XiaoBu.
“Ruangguru made its first regional expansion in October 2019, when it forayed into Vietnam through the launch of the Kien Guru service. The fresh injection of capital will enable Ruangguru to expand its products and services in the Southeast Asian region, especially in Indonesia and Vietnam. In future, the company plans to focus on building a comprehensive using artificial intelligence-driven personalized teaching.”