On Friday, BYJU’S (1) stated that it had raised 500 million USD in its recent funding round. Silver Lake, a global investment firm for technology, led the round. As per the reports, after the latest fundraise, the company’s valuation stands at 10.8 Billion USD. The startup’s existing investors, General Atlantic, Tiger Global, and Owl Ventures, also participated.
Byju Raveendran, Founder and CEO of BYJU’S, stated that the team is excited to welcome Silver Lake to the family. He added that the firm is fortunate to be in the sector that is getting a positive response even during the crisis.
He added that students, teachers, and parents are now understanding and experiencing its value. The classrooms are evolving for the first time in 100 years. We have now redefined the future of learning and excited about the new opportunities.
BYJU’s to Pioneer in Edtech, Aims to Help Students Globally to Find Their True Potential
Greg Mondre, Silver Lake Co-CEO, stated that the venture is delighted to partner and invest in the edtech firm. The venture is impressed with the team and their efforts to pioneer the education technology.
Mondre added that BYJU’S has a mission to help students across India and World to achieve their true potential. Silver Lake is looking forward to work with the organization as it builds and accelerates its growth. The edtech startup is panning to compel its expansion via forging a new partnership. The firm is working on a comprehensive ecosystem for innovation in educational offerings.
BYJU’S has entered the after-school learning space by launching its BYJU’s Classes. It is an extensive online tutoring program. The company has also made all its app content free for all students in the light of the ongoing pandemic.
In the previous month, BYJU’s had acquired WhiteHat Jr. It is a Mumbai-based coding platform for 300 million USD. Coding is currently a fast emerging skill for the future generation. The integration is likely to accelerate its international expansion plans.