$150M Raised by BYJU'S in an Investment Round Led by QIA
The $150 million investment by QIA will enable BYJU'S to establish a global presence, allowing it to deliver its learning programs to new students.
FREMONT, CA – BYJU’s, a rapidly growing edtech firm, recently raised a funding of $150 million. The Qatar Investment Authority (QIA) led the investment round, with participants such as Owl Ventures. The funding by premier sovereign and pension funds validate the robust business fundamentals of BYJU’S, empowering the edtech company to expand its offering to international markets.
The investment by QIA showcases its commitment to the education sector; the organization has funded several other leading innovators in the technology, media, and telecom (TMT) industry. The India-based firm tripled its revenue last May, touching revenue of over $ 200 million. Its adoption has increased over the last few years, achieving 85 percent annual renewal from small towns and cities, which shows the increasing acceptance of digital learning.
BYJU’s provide a learning app, which creates personalized learning programs designed to help the students learn at their own pace based on their unique proficiency levels. It currently delivers programs for K-12 students in India. After the recent acquisition of Osmo, a Palo Alto-based education game making company, BYJU’S partnered with Disney, launching a Disney BYJU’S Early Learn App for first to third graders.
The company secured over $30 million in funding for global expansion from its current investors, including General Atlantic, a New York-based equity firm, and Tencent, a Chinese conglomerate. The funding will bolster the efforts of BYJU’S in delivering a personalized learning experience to students. The company aims to leverage its expertise in developing immersive tech-enabled learning programs for students in small cities, regions, and new markets.
Since its inception, BYJU’S has raised over $240 million from investors including Tencent, Verlinvest, Chan-Zuckerberg Initiative, Sequoia Capital, Lightspeed Venture Partners, Aarin Capital, and several others. Empowered by the funding, the company will establish its presence overseas and deliver its unique learning approach to new learners.
The executive team of BYJU’S revealed that it had crossed $30 million in monthly revenues, and estimates revenue of $435 million by the end of this year. India has the world’s largest school-age population of over 260 million while the education sector in the country is at an inflection point, and the offerings of BYJU’S have enabled the delivery of effective auxiliary education to the budding generation of learners. The funding will allow the company to provide the best, personalized learning experience for every student.