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Making The World Fall In Love With Learning: BYJU’s Raises US$ 400 Million, Plans International Expansion
Founder and CEO of BYJU’S learning app, Byju Raveendran(Photo by Hemant Mishra/Mint via Getty Images)
E-learning startup Byju’s in planning to release its international product within the next six to eight months. The product will target markets in the Anglosphere such as the US, UK and Australia, reports Financial Express. The company is also currently raising US$ 400 million in its latest funding round which puts it valuation at US$ 3.6 billion.
Byju’s latest investors would include the Canada Pension Plan Investment Board, Naspers and General Atlantic. The company has already raised US$ 240 million in prior to this latest funding round.
The education app already has two million paid subscribers and a total of 30 million registered users. The company has posted revenues of Rs 520 crores for the 2017-2018 financial year and is looking to triple that in the current financial year.
Currently Byju’s, owned by Think and Learn Private Limited, has two separate apps catering to students in Classes IV-V and VI-XII respectively. It has also nearly finished work on launching a new app directed towards pre-schoolers or K3 pupils. The product is expected to launch soon.
Byju’s has been in existence since 2011 with its focus till now restricted to the K12 segment in India. The app providing learning resources for students between grades VI and XII was launched in 2015.
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