The company’s CEO along with Sumeru Ventures, Vitruvian Partners, and BlackRock were the participants in the funding round
Byju Raveendran invested $400m in the Indian edtech company as part of the new funding round. (Credit: cherian_in/Wikimedia Commons)
Indian edtech company Byju’s has secured $800m in a new funding round, half of which has come from its founder and CEO Byju Raveendran.
The funding round values the firm at nearly $22bn as per multiple reports across the Indian media.
Additional investors in the funding round include Sumeru Ventures, BlackRock, and Vitruvian Partners.
Vitruvian Partners managing partner Mike Risman said: “As a leader in the edtech space, Byju’s strong growth and expansion in national and international markets has been very promising. We look forward to working with Byju’s as it builds on and accelerates its compelling growth trajectory.”
Byju’s offers learning experience through mobile, interactive content, and customised learning methodologies. The edtech company is said to offer geography-agnostic solutions and has more than 12,000 teachers in its network.
It also claims to have partnerships with Disney, Google, and other companies to drive engagement.
Established in 2011, Byju’s is said to cater to over 150 million students globally. Its family of brands includes Disney-BYJU’S Early Learn, Epic!, BYJU’S – The Learning App, BYJU’S Future School, Tynker, Osmo, and WhiteHat Jr, Toppr.
Raveendran said: “We continue to deliver accelerated growth in India and international markets through both organic and inorganic initiatives. Our sustained focus is on achieving our long-term goals around creating lifelong value for our learners.
“As we advance this mission, we are imagining and reimagining the way students will learn, unlearn and relearn in the future. Our aspiration is to build something that will last for decades.”
Since 2017, the edtech company has completed over 15 acquisitions, which include firms in the US, the UK, India, Austria, and Singapore.
In December 2021, the company acquired Austria-based GeoGebra, which is said to have built an interactive and collaborative mathematics learning tool.
Last July, Byju’s acquired Epic, a US-based digital reading platform for kids aged 12 years and under, for a price of $500m.