Byju’s has raised $500 million in a new financing round that valued the Indian online learning platform at $10.8 billion, a source familiar with the matter said.
The round is lead by Silver Lake, and existing investors Tiger Global, General Atlantic and Owl Ventures have also participated in it, Byju’s said in a statement, but declined to reveal the size of the round and its valuation.
“We are excited to welcome a strong partner like Silver Lake to the BYJU’S family,” said Byju Raveendran, co-founder and CEO of Byju’s in a statement. “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.”
More to follow…