Byju’s raises $200 Mn in a fresh round of investment from General Atlantic
By MYBRANDBOOK
Edtech startup, Byju’s has secured two consecutive rounds of investment in a span of four weeks. This includes the fresh $200 million from New York-based existing backer General Atlantic as part of its ongoing round.
The Bengaluru-based edtech platform has raised the latest round at a valuation of nearly $8.2 billion. Earlier in 2018, General Atlantic had poured in about Rs 410 crore in Byju’s. It held around 4.83% CCPS and 3.14% equity shares in the company.
Byju’s will use the funded money for product and business expansion. The fresh fund will also help Byju’s expand its footprint and achieve scale globally as it has been exploring foreign markets for the past couple of years
The round comes within a month of Tiger Global investment, which poured in about $200 million in Byju’s at a valuation of $8 billion. This is a massive jump in valuation for the edtech firm after its last year July round.
In July 2019, Qatar Investment Authority had poured in $150 million at a valuation of about $5.5-$5.7 billion.
“General Atlantic has been one of our strongest partners and this additional investment shows their confidence in our vision, growth and future,” said Byju Raveendran, CEO and founder.
So far, the edtech firm has secured over $1.15 billion funds across several rounds.
The eight-year-old edtech platform claims to have over 65% of students beyond top ten cities. Out of about 42 million registered users, Byju’s claims to have about three million paid subscribers.
In the past couple of years, It has also emerged as one of the best bets for investors in terms of returns.
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