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East Ventures has invested in Ruangguru.com, an online marketplace for private tutoring based in Indonesia

East Ventures has invested in Ruangguru.com, an online marketplace for private tutoring based in Indonesia

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Published by: Crowdsourcing.org on Aug 19, 2014
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12/27/2014

 
PRESS RELEASE -
 August 19, 2014 (English)
East Ventures has invested in Ruangguru.com, an online marketplace for private tutoring based in Indonesia
 Ruangguru.com just received seed funding from East Ventures, which will be used to further develop the online platform, achieve product/market fit, and scale up services in key cities in Indonesia.
Ruangguru.com is East Ventures’ first education portfolio company in Southeast Asia.
 Ruangguru.com is an online marketplace that connects private tutors and students in Indonesia, offering a wide variety of courses beyond school subjects, including standardized test prep, languages, music, sports, computers and more. Everyone with expertise or skills can sign up to be a teacher on our platform. Students can, in turn, find verified, reviewed, high-quality teachers. Ruangguru currently has over 1000 high-quality registered teachers, including science olympiad medallists, top performing musicians, and award-winning university students, only after launching 4 months ago in April 2014. Ruangguru works by taking a 20% cut on transaction value and minimizes back-door transactions for recurring transactions by using the number of hours registered through our platform as the main component of our teacher rating system. Ruangguru.com was founded by Adamas Belva (Belva) and Iman Usman (Iman). Belva worked at Goldman Sachs Singapore, Office of the President of Indonesia, and McKinsey & Company Jakarta before pursuing his double masters at Stanford (MBA) and Harvard (MPA). Iman earned his Master in Education Development from Columbia University in New York. Iman previously worked for a couple of years in non-profit leadership and management in Jakarta and New York. The founders
said, “
We are personally passionate about education and believe that technology can be a tool to push our education objectives forward. We are continuously humbled and energized by the success of students and the many teachers who have earned additional income through our platform. Our ultimate aim is to be a platform that allows anyone to learn anything from anyone in Southeast Asia, capturing the high share of education-related expense in household budget in the region.
 
“The potential of education market in Indonesia is huge. Based on the latest stat
istics by Indonesia President Susilo Bambang Yudhoyono, there are 50 million students, 3 million teachers and 200,000
schools in Indonesia today. Ruangguru.com rides on this potential and fill the gap that couldn’t be
fulfilled by formal education. We are honored to be able to help them in this journey,
” said Willson
Cuaca, Managing Partner of East Ventures. Funding amount is undisclosed. Further questions can be addressed to Iman Usman at iman@ruangguru.com.  Ruangguru.com - Jl. Tebet Raya No. 32A, Jakarta Selatan

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