Indonesian ed-tech startup Ruangguru has announced that it has raised USD 150 million in Series C funding round led by growth equity company General Atlantic and venture capital firm GGV Capital.
The funding round was also participated by the existing investors and some of the new investors.
As per the company, the new funding will be used to extend its product offerings across Indonesia and Vietnam.
“Ruangguru’s affordable pricing model, enabling the company to deliver its resources to the masses, is a model that truly resonates in Indonesia. Technology-enabled education in emerging markets is a key investment theme for General Atlantic, evidenced by our partnerships with companies such as Byju’s, Hotmart, Arco, Open Classrooms, and Little Golden Star,” said Sandeep Naik, Managing Director and Head of India and Southeast Asia, General Atlantic.
This is the second investment of General Atlantic’s in Indonesia after PT MAP Boga Adiperkasa, a food, and beverage retailer operating seven exclusive brands in Indonesia, including Starbucks, Pizza Marzano, Krispy Kreme, Cold Stone Creamery, Godiva, Genki Sushi, and Paul Bakery.