<ul><li>Byju’s, an online learning platform, raised USD 800 million in a funding round led by its Co-Founder and CEO Byju Raveendran, who invested up to USD 400 million. As a result of the investment, Raveendran’s stake in the company increased to 25%. Sumeru Ventures, Vitruvian Partners, and BlackRock also participated. The round follows its USD 68 million Series F raised in November 2021 and brings the company’s total funds to USD 4.5 billion, valuing Byju’s at ~USD 22 billion.</ul>
The company intends to use the funds to execute its global growth strategy.
The platform currently has 150 million users, up from 80 million users reported last year. It has an annual renewal rate of 86% and its net promoter score (NPS) stands at 76.
<ul><li> Analyst QuickTake: Over the past two years, Byju’s has raised more than USD 2.5 billion and used most of the funds on a series of acquisitions targeted to expand its market reach. More recently, in February 2022, the company acquired Superset (a recruitment automation platform) via its subsidiary Great Learning (acquired in July 2021). Its other notable acquisitions include Aakash Educational Services (acquired in April 2021) and HashLearn (acquired in May 2021). Byju’s has secured new funds amidst its plans on going public; unconfirmed reports revealed that the company was in advanced talks with Churchill Capital's special-purpose acquisition company (SPAC) to raise USD 4 billion at a valuation of USD 48 billion in an IPO in the US in mid-2022.</ul>
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