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Technology is revolutionizing the education sector. Online learning platforms are becoming increasingly popular, as they offer a flexible and convenient way to learn.
Indonesian EdTech startup Ruangguru has announced the acquisition of Mclass, one of the fastest-growing educational technology platforms in Vietnam, for an undisclosed amount. The latest deal aims to expand Ruangguru’s reach and capabilities across Southeast Asia.
According to the company, this strategic move complements Ruangguru’s existing online learning options for K-12 students, including pre-recorded live teaching and homework helper solutions. These services have already been used by more than 2.5 million students in Vietnam over the last four years. The acquisition is also expected to allow Mclass’s teachers to reach more students across the region.
Co-founded by Nguyen Van Khai and Nguyen Minh Thang in 2019, Mclass offers live teaching sessions in math, science, literature, and test preparation like IELTS. Teachers on the app have seen 85,000 learners join their live classes and gain over 10 million followers on their social networks.
Speaking about the acquisition, Co-founder & CEO of Ruangguru, Belva Devara, said:
We are excited to welcome Mclass’ strong reputation and expertise in online learning can further expand our offering and boost our business in Vietnam and Southeast Asia and complement our existing learning solutions.
Last year, Ruangguru acquired two Indonesian companies, a coding course provider Kalananti and Schoters, that offers overseas student guidance for Indonesian students wanting to study further.
Founders of Mclass, Nguyen Van Khai and Nguyen Minh Thang, added:
Joining Ruangguru is an exciting opportunity for us. We share a common vision of making quality education accessible and enjoyable for students across Southeast Asia.
Ruangguru was founded in 2014 by Belva Devara and Iman Usman and has amassed over 40 million users across Indonesia, Thailand, and Vietnam. The startup has over 22 million users and manages about 300,000 teachers who teach more than 100 subjects. The company expanded to Thailand by launching StartDee in 2020.
In April 2021, Ruangguru secured $55 million in its Series C2 funding round led by Tiger Global Management, with participation from GGV Capital. In December 2019, the firm had raised $150 million as a part of its Series C funding led by East Ventures, Venturra Capital, and UOB Venture Management.
