Ruangguru’s Profit Fuels Regional Expansion Ambition

By Editorial Team 12/06/2023
education technology
Summary

Edtech startup Ruangguru claims to have achieved its first profit of US$3.7 million in 2021. A significant turnaround from the previous year when Ruangguru recorded a loss of US$1.2 million.

According to the Singapore Accounting and Corporate Regulatory Authority (ACRA), cited by DealStreetAsia on Jun 9, 2023, Ruangguru also saw substantial growth in revenues from US$63.25 million in 2020 to US$102.69 million in 2021.

Ruangguru had US$129 million in cash by Dec 2021 after securing a Series C funding round led by Tiger Global Management, which provided US$55 million.

Since its establishment in 2014, Ruangguru app has been downloaded over 31.1 million times. The edtech platform operates in three countries: Indonesia, Vietnam through the KienGuru application, and Thailand through StartDee.

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