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Online Education Start-Up BYJU's raises $300 Million Investment; Valuation At $11 Billion
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In a positive development coming out from the domestic startup community, the online education unicorn start-up BYJU's has raised fresh funds of about $300 million from several investors at a valuation of a staggering $11 billion, reports Hindu Businessline.
While already existing investors like Tiger Global, General Atlantic and Owl Ventures of BYJU's participated in the funding round, new names like Sands Capital, BlackRock Inc. and Alkeon Capital also joined the list of investors in the company founded by Byju Raveendram.
The company caters to students from kindergarten through 12th grade and has over 70 million registered users and over 4.5 million paid subscribers. Founder of the company, Raveendram is himself a former teacher and is also a son of educators. He conceived the online education platform in 2011.
With the coronavirus pandemic disrupting the usual schooling and education world over, parents, teachers and schools have been forced to adopt digital learning tools. This has heated the demand for online education platforms, enabling not just BYJU's but also a number of its rivals like Unacademy and Vedantu to raise significant funds.
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