Higher edtech platform Simplilearn, promoted by private equity firm Blackstone, has raised $45 million in a new funding round led by GSV Ventures at an undisclosed valuation, as competition intensifies in the higher learning and upskilling space amid a downturn in online learning.
Clal Insurance and DisruptAD, ADQ’s venture platform, also participated in the round, Simplilearn said on November 16. Simplilearn said it would use the funds to boost its growth plans in India and international markets.
“We continue to witness the accelerated need for a digitally skilled workforce across industries and Simplilearn continues to be focused on bridging the digital skill gap," founder and chief executive officer Krishna Kumar said.
Kumar said they were grateful for how far the company had come and the Blackstone investment in 2021 came at an ideal time to boost its growth globally.