Byju’s raises $800 million, with $400 million invested by Byju Raveendran
The decacorn of educational technology Sumeru Ventures, Vitruvian Partners, and BlackRock led a new $800 million funding round for Byju’s. Byju Raveendran, the founder and CEO of Byju’s, is also a part of this fund-raise and has put up $400 million of his own money.
According to sources familiar with the situation, the valuation has risen to $22 billion from $18 billion during the previous fund raise. According to sources familiar with the situation, the funding comes ahead of a mega IPO the company is planning in the US markets through a SPAC deal.’
“Through both organic and inorganic routes, we continue to see accelerated growth in India and international markets.” Our constant focus is on achieving our long-term objectives of providing life-long value to our students. We’re imagining and reimagining how students will learn, unlearn, and relearn in the future to achieve this. “Our goal is to create something that will last for decades,” says the team. Byju Raveendran, Byju’s Founder & CEO, stated.
“I’ve always believed that by resolving the trilemma of cost, quality, and scale in edtech, India has the potential to create global champions.” We will continue to invest in a variety of learning models to ensure that students around the world receive a high-quality education,” Raveendran added.
“Byju’s strong growth and expansion in national and international markets has been very promising as a leader in the edtech space.” Mike Risman, Managing Partner of Vitruvian, said, “We look forward to working with Byju’s as it builds on and accelerates its compelling growth trajectory.”
According to company filings obtained from Tofler, the company’s previous round valuation was $18 billion in a Series F funding round, and it has raised more than $1.8 billion since 2020 (excluding the new $800 million investment).
The edtech platform claims to have over 150 million users and an 86 percent annual renewal rate.
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