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Indonesian edutech startup Ruangguru raises Series B round led by UOB Venture Management

TimeOdd Stories - Ruangguru

Indonesian edutech startup Ruangguru today announced that it has raised an undisclosed Series B round led by UOB Venture Management, the private equity arm of Singapore-based UOB Ltd.

The startup’s existing investors East Ventures and Venturra Capital also stated that they have continued investing in the startup.

Reports about the funding round has been circulating since mid-June; it followed up a recent grant that Ruangguru has received from global mobile operator trade body GSMA.

The South Jakarta-based startup plans to use the new funding to “strengthen its team in the areas of educational content, technology, marketing and operations, and deepen its product adoption in Indonesia.”

Ruangguru will also continue to “explore ways” implement machine learning for personalised education services, and to utilise “the massive wealth of academic data” that it produces.

Ruangguru co-founder and Chief Product Officer Iman Usman has mentioned about the use of machine learning and data produced by the Ruangguru platform in helping the government create policies at a recent UN high-level forum on education.

Starting out in 2014 as an online marketplace for private tutors, Ruangguru offers services such as Learning Management System for formal education system in Indonesia.

The platform include features such as question banks, classroom management and exam simulations, and the startup claimed that it has helped the government conduct data-driven policy-making through its dashboard and insights.

“Working with ambitious regional governments has been a continual source of inspiration for us to continually think about what impact we can have on academic success of students when all stakeholders cooperate. Strengthening our partnerships with governments is also key for us to scale our operations nationwide,” said Usman.

The startup also offers other services such as RuangBelajar (integrated learning video subscription service), RuangLes (private tutoring marketplace), RuangLesOnline (on-demand tutoring service), and Ruangguru Digital Bootcamp (social learning education solution for group-based distance learning).

It partners with messenger app LINE to launch LINE Academy, which allows students to take simulated online national examinations on the LINE platform.

Ruangguru co-founders Usman and Adamas Belva have recently been named in the Forbes’ 30 Under 30 Asia 2017, for the consumer tech category.

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Written by TimeOdd

TimeOdd is a leading technology media property, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.

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