India’s edtech giant, Byju’s, has raised $1 billion in a funding round led by B Capital and T Rowe Price. The company’s valuation has now reached $15 billion, making it one of the most valuable edtech companies in the world. The funding round also saw participation from existing investors such as General Atlantic, Tiger Global, and Owl Ventures. Sources byju 1b 15b 200m 300mraibloomberg plans to use the funds to expand its product offerings, hire more teachers, and expand into new markets.
Expanding Product Offerings and Hiring More Teachers
Byju’s is known for its popular learning app that offers video lessons and interactive quizzes for students from kindergarten to 12th grade. The app has been downloaded over 100 million times and has more than 4.5 million paid subscribers. With the new funding, Byju’s plans to expand its product offerings beyond K-12 education. The company is looking to launch new products for students preparing for competitive exams such as the GMAT, GRE, and CAT. Byju’s also plans to hire more teachers to meet the growing demand for its services. The company currently has over 70,000 teachers on its platform, and it plans to add another 11,000 teachers by the end of this year.
Expanding into New Markets
Byju’s has already expanded into several international markets, including the US, UK, and Australia. With the new funding, the company plans to expand further into international markets. The company is also looking to expand its reach within India. Byju’s recently acquired Aakash Educational Services, one of India’s largest test preparation companies. The acquisition will help Byju’s expand its presence in the test preparation market and reach more students across India.
Conclusion
Byju’s has become one of the most valuable edtech companies in the world, thanks to its popular learning app and its recent funding round. With the new funds, the company plans to expand its product offerings, hire more teachers, and expand into new markets. Byju’s is well-positioned to continue its growth and become a leader in the edtech industry.