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Edutech startup Byju's receives funding from Silver Lake

The company raised $500 million in the current funding round, which was led by Silver Lake, according to media reports.

September 09, 2020 / 06:33 PM IST

US Private equity firm Silver Lake has invested in Indian education technology startup Byju's.

Existing investors Tiger Global, General Atlantic and Owl Ventures also participated in the current financing round, Byju's said in a statement.

The Bengaluru-based company raised $500 million in the current funding round, which was led by Silver Lake, according to media reports.

"We are excited to welcome a strong partner like Silver Lake to the Byju's family," said Byju Raveendran, founder and CEO of Byju's.

In it's previous investment round, Byju’s raised $100 million from Bond Capital at a valuation of $10.5 billion.

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Byju's, which provides an online learning platform, recently acquired coding coaching startup WhiteHat Jr.

Silver Lake Partners recently purchased a 2.08 percent stake in Jio Platforms, the telecom unit of Reliance Industries, for Rs 10,202.55 crore.

The Byju's app has over 64 million registered students and 4.2 million annual paid subscriptions.

Founded in 2011, Byju's is owned by Think and Learn Pvt Ltd. It's existing investors also include Sequoia Capital India and Naspers Ventures.

Disclaimer: Reliance Industries Ltd., which also owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

TAGS: #Byjus’
first published: Sep 8, 2020 12:12 pm
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