Indonesian edtech firm Ruangguru nets $55m after claiming profitability for 2020

• The funding comes after Ruangguru claims it has driven significant growth in user volume and revenue throughout 2020, its first financial year of profitability.
• Ruangguru will use the new capital to further accelerate its business expansion in Indonesia, Vietnam, and Thailand across both K-12 and lifelong learning segments.
• The company said it has served more than 22 million users across all the countries it operates in.
• The new funding follows Ruangguru’s US$150 million series C funding round in 2019 led by General Atlantic and GGV Capital. Earlier investors in the company include East Ventures, Venturra Capital, and UOB Venture Management.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.