Ruangguru, an online education platform in Indonesia, has announced it has secured US$55 million in a Series C2 funding round led by Tiger Global, a global investment firm. GGV Capital, a preeminent venture capital firm, also participated in the funding round. The announcement follows the company’s previous US$150 million Series C funding led by General Atlantic and GGV Capital in December 2019, which Latham also advised on.
Following the increased adoption of online learning during the global COVID-19 pandemic, this latest investment will support Ruangguru to solidify its position as a market leader in education technology as it seeks to expand its product offering in Indonesia, Vietnam, and Thailand.
Hong Kong partner Amy Beckingham commented: “Following our role in Ruangguru’s initial Series C funding in 2019, we were delighted to support them once again in this latest funding round as the company continues to grow its presence across Southeast Asia.”
Latham & Watkins LLP represented Ruangguru Pte. Ltd. in the transaction with a corporate deal team led by Hong Kong partner Amy Beckingham and Singapore partner Farhana Sharmeen, supported by associates Edward Tang and Vivian Yeung. The team worked in close partnership with Ruangguru’s in-house team led by Hana Monica Hutabarat, Senior Legal Manager, and Arman Wiratmoko, VP of Corporate Strategy and Finance, to deliver this transaction.