The Indonesian edtech startup will use the funding to strengthen human resources and to venture into new verticals
Online marketplace for tutors and education services Ruangguru today announced that it has received an undisclosed Series A –in ‘seven-digit US dollars’– led by Venturra Capital.
East Ventures, who had given the startup seed investment in August 2014, also participated with follow-on funding in this round.
The startup will use the funding to strengthen human resources and to venture into new verticals, to achieve its aim to become the ‘largest tech-enabled education provider in the region’.
“We are extremely excited to partner with Venturra Capital as our new investor,” said Iman Usman, CEO and Co-Founder of Ruangguru.
“Their affiliation with Lippo Group is beneficial as we are already planning strategic partnerships with their big-name businesses including Pelita Harapan Education Chain, Berita Satu Media Group and many others, to significantly scale up our reach nationally,” he added.
Ruangguru launched its new service in 2015, in the form of an online test preparation platform that allows students to access question banks tailored to the national curriculum for free. Students can take the test online and see their progress as well as which area they need to work on, based on the analytics provided on the platform.
The startup has also secured several partnerships with the government and universities, starting with a pilot project with the Department of Education of Jakarta to help public and private school teachers prepare for the National Teachers’ Competency Exam (UKG).
The Faculty of Medicine, University of Indonesia also recently decided to use Ruangguru’s service to conduct online try-outs for its countrywide university entrance exam.
The company has also launched Guru Hebat, a tutor development programme for tutors in Greater Jakarta area.
“We see Belva and Iman as strong and dedicated founders who are passionate about making a significant impact to the education sector in Indonesia, and with their leadership, we believe that Ruangguru has the potential to dominate the online education space in Indonesia,” said Rudy Ramawy, Managing Partner of Venturra Capital.
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