BYJU’S raises $250 million in a fresh funding round
Existing investors including QIA part of this round
National, October 17, 2022: BYJU’S, the world’s leading EdTech company with over 150 million learners, today announced a new fundraise of $250 million from its existing investors.
Byju Raveendran, Founder and CEO of BYJU’S, said, “BYJU’S is now at that sweet spot of its growth story where the unit economics and the economies of scale both are in its favour. This means the capital that we now invest in our business will result in profitable growth and create sustainable social impact. Regardless of the adverse macroeconomic conditions, 2022-23 is set to be our best year in terms of revenue, growth and profitability. Continued support from our esteemed investors re-affirms the impact created by us so far, and validates our path to profitability.”
BYJU’S has embarked on a path to achieve group-level profitability by March 2023 with a three-pronged approach. It is consolidating all its K10 India subsidiaries into one unit to leverage their synergies. Aakash Education and Great Learning, which are respectively into test-prep and upskilling, will continue to operate as stand-alone independent units. Having already become one of India’s most popular consumer brands, BYJU’S will now be retargeting its marketing budget towards its overseas markets. The group is also increasing the strength of its inside sales team for more efficient and effective consumer-centric lead conversions.
As the world’s leading edtech company, BYJU’S has been at the forefront of evolving learning needs. In line with its long-term strategic plan, BYJU’S launched its hybrid learning offering BYJU’S Tuition Centre (BTC) in 2022 to bring the best of online and classroom learning to students. Today, there are 250+ active BTCs across India and the company aims to scale it up to 500 centres by the end of this financial year. In FY22, BYJU’S registered accelerated growth at the group level, with its core K-12 business growing more than 150% and group companies Aakash Education and Great Learning doubling their revenue since acquisition. Along with the revenue growth and significant momentum, BYJU’S continues to enjoy an industry-best NPS of 70 and has an annual retention renewal rate of 80%. BYJU’S has 150+ million learners accessing its products and services in 120+ countries.
About BYJU’S:
BYJU’S, the world’s leading education technology (EdTech) company, provides engaging and personalized learning programs to more than 150 million students around the world. The BYJU’S family of brands caters to a wide range of learners of all ages and includes BYJU’S Learning App for K12 after-school learning, BYJU’S classes with a unique two-teacher model, BYJU’S Live for live 1-on-1 learning, BYJU’S Tuition Centre for hybrid learning, BYJU’S Future School for skill-based learning, Epic for digital reading, Osmo for hands-on ‘phygital’ learning games, Tynker for creative coding in K12, Aakash Education for test-prep, Great Learning for upskilling, and GeoGebra for interactive and collaborative mathematics learning tools. With users in more than 120 countries and learning programs offered in multiple global languages, BYJU’S is at the forefront of deploying cutting-edge technology in education, as well as providing thought leadership to the global EdTech community. BYJU’S has been backed by some of the world’s most prominent impact investors, including Chan-Zuckerberg Initiative, Naspers, CPPIB, General Atlantic, Tencent, Sequoia Capital, Sofina, Verlinvest, IFC, Aarin Capital, TimesInternet, Lightspeed ventures, Tiger Global, Owl Ventures and Qatar Investment Authority.
