Edtech decacorn BYJU’s raises $800 Mn, valuation jumps to $22B
- ByStartupStory | March 12, 2022
On Friday, Edtech decacorn BYJU’s announced its raise of about $800 million in its latest funding round, including a personal investment by Founder Byju Raveendran of $400 million. The round, which saw participation from Sumeru Ventures, Vitruvian Partners, and BlackRock also participated in the round and an estimate of $22 billion was valued by the company.
Byju has invested for the first time in his company. The Bengaluru-headquartered edtech major raised about $1.2 billion in debt from overseas financial institutions in November 2021. The edtech startup also made rapid acquisitions in the edtech sector, while BYJU’s garnered more interest from investors in the year 2020 and 2021.
With an annual renewal rate of 86 percent, the edtech major has over 150 million users on its platform at present. In the K-12 category, i.e., school-going children between Classes 4-12 lies the core strength of BYJU’s. JEE, NEET, CAT, and IAS, among others are included in other categories that it has the products in.
India has been the edtech major’s core market, but it has also got a presence overseas as well which includes the US, UK, Australia, Brazil, Indonesia, and Mexico.
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