Education technology company, Byju’s, on Tuesday announced a new round of funding from private equity giant Silver Lake. Existing investors Tiger Global, General Atlantic and Owl Ventures also participated in this round and according to news agency Bloomberg, the fund raised is expected to be to the tune of $500 million at a valuation of $10.8 billion. Since the lockdown, Byju’s has seen over 20 million new students start learning from its platform for free. Today, the app has over 64 million registered students and 4.2 million annual paid subscriptions. Byju’s had doubled its revenue from Rs 1430 crore to Rs 2800 crore in FY 19-20.
Byju’s raises $500 million in round led by Silver Lake, valuation almost $11 billion
Date posted: Wednesday 9 September 2020