After its latest fund raise from Mary Meeker's tech investment firm BOND, online learning startup Byju's has bagged the coveted 'decacorn' tag.
The latest investment values Bangalore-based Byju's at $10.5 billion. Byju's is now the second-most most valuable startup in India after Paytm, which is valued at around $16 billion.
In February, Byju's raised about $200 million in funding from General Atlantic. At that time, sources had said the company was valued at about $8.2 billion.
"This partnership (with BOND) is a testament to the role that BYJU'S is playing in helping students learn better by customizing our platform to their abilities. It also demonstrates the rising global interest in education technology as digital learning becomes increasingly accepted and embraced," Byju's founder and CEO Byju Raveendran said.
With schools shut due to the COVID-19 outbreak, Byju's has made content on its learning app free for all students, and has also introduced live classes to further student engagement, the company said.
Byju's has over 57 million registered students, more than 3.5 million paid subscribers and annual renewal rate of 85 percent. Byju's doubled its revenue from Rs 1,430 crore to Rs 2,800 crore in 2019-20.
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