Edtech company BYJU procures funding

India-based BYJU, an education tech company, has secured an undisclosed amount of funding. The investors were Silver Lake, Tiger Global, General Atlantic and Owl Ventures.

PRESS RELEASE

Bangalore, September 8th, 2020 : BYJU’S, India’s largest education technology company today announced a new round of funding from Silver Lake, the leading global technology investment firm. Existing investors Tiger Global, General Atlantic and Owl Ventures are also participating in this round.

“We are excited to welcome a strong partner like Silver Lake to the BYJU’S family,” said Byju Raveendran, Founder & CEO, BYJU’S. “We are fortunate to be in a sector of positive relevance during this crisis. This has brought online learning to the forefront and is helping parents, teachers and students experience and understand its value. Our classrooms are changing possibly for the first time in 100 years and I’m really excited about the opportunities that we have to redefine the future of learning.”

BYJU’S has continued to support students in their learning journey during this pandemic. In response to the closure of schools due to the ongoing pandemic, the company had made content on its learning app free for all students. Over the last few months, BYJU’S has entered the afterschool learning space with the launch of BYJU’S Classes, a comprehensive online tutoring program.

“We are delighted to lead this investment and partner with Byju and his impressive team of education technology pioneers in their m ission to help children in India and around the world achieve their true potential,” said Greg Mondre, Co -CEO of Silver Lake . “We look forward to working with them as BYJU’S builds on and accelerates its compelling growth trajectory by forging new partners hips and continuing to cultivate a comprehensive ecosystem of innovative educational offerings.”

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 stud ents and 4.2 million annual paid subscriptions. BYJU’S had doubled its revenue from INR 1430 crore in FY 18 -19 to INR 2800 crore in FY 19-20.

Last month, BYJU’S acquired WhiteHat Jr., a Mumbai based coding platform. With coding fast emerging as a key sk ill for the future, this integration will also accelerate BYJU’S international expansion plans.

About BYJU’S (Think & Learn Pvt Ltd) –
BYJU’S is India’s largest ed-tech company and the creator of India’s most loved school learning app which offers highly adaptive, engaging and effective learning programs for students in classes K -12 and competitive exams like JEE, NEET and IAS. BYJU’S launched its flagship product, BYJU’S – The Learning App, for classes 4-12 in 2015. Today, the app has over 57 million registered students and 3.5 million annual paid subscriptions. With an average time of 71 minutes being spent by a student on the app ev ery day from 1700+ cities, the app is creating a whole new way of learning through visual lessons, live classes by top BYJU’S tea chers and encouraging students to become self-initiated learners. The Disney BYJU’S Early Learn App was launched in June 2019, a special offering from BYJU’S for students in classes K-3 featuring Disney’s timeliness characters. In early 2019, BYJU’S also acquired Osmo, a Palo Alto based maker of educational games to transform the whole offline to online learning experience. Delivering a world-class learning experience, programs from BYJU’S are making learning contextual and visual. The apps have been designed to adapt to the unique learning style of every student, as per the pace, sizeand style of learning. BYJU’S is paving the way for new-age, geographyagnostic learning tools that sit at the cross section of mobile, interactive content and personalized learning methodologies. BYJU’S is also the official sponsor of the Indian Cricket Team.

To know more about the company, please download the apps (Available in Play Store & App store) or visit us at https://byjus.com/.

About Silver Lake
Silver Lake is a global technology investment firm, with more than $60 billion in combined assets under management and commited capital and a team of investment and operating professionals based in Menlo Park, New York, London, Hong Kong, Cupertino and San Francisco. Silver Lake’s portfolio of investments collectively generates more than $180 billion of revenue annually and employs 295,000 people glob ally. For more information about Silver Lake and its portfolio, please visit silverlake.com.