Ruangguru Reportedly Received New Funding Worth 1,4 Trillion Rupiah

Educational technology startups Ruangguru rumored to be getting new funding led by General Atlantic. Quoted from DealStreetAsia, the investment value given in this round reaches $100 million or Rp1,4 trillion, bringing the company's valuation to $500 million.

When contacted DailySocial, Co-Founder & CEO Ruangguru Belva Devara said the news was just a rumor so far and would not comment further. "That's a rumor huh. We don't respond to rumours."

Previous funding obtained by Ruangguru is there a series B round, opening 2018 and closing mid 2019, led by UOB Venture.

Previously, a representative from the government had conveyed that: Softbank interested in investing in Ruangguru. However, this news confirms the cancellation of this intention, especially Softbank is facing problems with one of its flagship portfolios, WeWork.

Di celebration On their fifth birthday in July 2019, they claim to have succeeded in embracing 15 million students with 300 thousand teachers on their platform. Ruangguru also recently expanded into Vietnam by presenting services "Kien Guru".

In the education technology segment, this year there were other startups that also booked advanced funding. First there HarukaEdu, which received series C funding led by SIG. Then there are two Zenius, which received IDR 283 billion in fresh funding, led by Northstar Group.