In its second deal this year, Indonesian edtech Ruangguru on Monday announced the acquisition of Schoters, a local firm that offers overseas study guidance, for an undisclosed sum.
The deal closely follows the company’s acquisition of coding course provider Kalananti in June.
Founded in 2018, Schoters offers consultation on college registration, foreign language classes, document preparation, and assistance in finding student accommodation abroad.
The firm claims to have helped thousands of Indonesian students get enrolled in more than 400 universities in 43 countries including Cornell University and Harvard University in the US, University College London in the UK, and Nanyang Technological University in Singapore. Schoters’ users grew 500% between 2020 and 2021.
The acquisitions of Schoters and Kalananti complement Ruangguru’s K-12 product ecosystem, according to the company.
At a press conference, Ruangguru also launched a series of new features including Ruangguru for Kids, which offers a series of courses for children aged 3-12, and Adapto X – a learning feature that uses simulations and interactive games.
“This new academic year, Ruangguru introduces new innovations and enters a new vertical to create a learning ecosystem to meet the needs of students at various levels and fields. We hope with these efforts, students will be more ready to face the new school year,” said Ruangguru co-founder and CEO Belva Devara in a statement.
Founded in 2014 as an online tutoring platform, Ruangguru has grown to be one of the most diversified edtech startups in Indonesia. The firm now has over 38 million users in Indonesia, Thailand, and Vietnam.
The startup has raised more than $205 million in funding over ten rounds, according to Crunchbase. Some notable investors that back Ruangguru are East Ventures, Tiger Global Management, General Atlantic, GGV Capital, and Venturra Capital.
Acquisitions among edtech companies are common to add capability and broaden offerings for students. In February, another Jakarta-based firm Zenius acquired a tutoring institution Primagama as part of its strategy to build a hybrid learning platform. Before Zenius, Ruangguru has already tapped into this model by launching Brain Academy in 2019 which offers both online and offline tutoring programmes.
In India, major edtech companies have actively followed an acquisition strategy to expand their offerings and presence across different verticals. India’s BYJU is reportedly in talks to raise $1 billion in fresh financing as it looks for more acquisitions. Since 2017, the company has completed more than 15 acquisitions, including startups in the US, UK, Austria, India, and Singapore. Another edtech firm in the country, Unacademy, has made 11 acquisitions since its inception in 2015.