BENGALURU : Edutech start-up Byju’s has raised $540 million (about `3,866 crore) led by leading Internet and entertainment group Naspers, with a significant portion being contributed by the Canada Pension Plan Investment Board (CPPIB) and General Atlantic. With the current funding round at a valuation of $3.6 billion, Byju’s, the creator of K-12 learning app, has become the fourth valuable start-up in India after Paytm, Ola and OYO.
With fresh funding, the company is planning to expand to global markets and also invest in technology to develop personalised learning for students.
“We are happy to have prominent and long-term partners like Naspers and CPPIB on board with us. This partnership will strengthen our ability to deliver on our vision to build world’s largest education company,” said founder & CEO Byju Raveendran.
The company said it has been growing at 100 per cent for the last three years and is on target to triple its revenue to Rs 1,400 crore this year. According to Crunchbase, Byju’s has raised over $660 million in funding from 13 investors including Naspers, CPPIB, General Atlantic, Chan-Zuckerberg Initiative, Tencent, Sequoia Capital, Sofina, Verlinvest, IFC, Aarin Capital, Times Internet, and Lightspeed Venture Partners.
It has made three acquisitions till date including Math Adventures, TutorVista.com, and Vidyartha (SPAN Thoughtworks Pvt Ltd).