India-based online education startup BYJU’S has raised undisclosed funding from its existing investor General Atlantic.
But, according to the media sources, “The investment from General Atlantic was of $200 million (approx Rs 1,420 crores) and it was the part of the company’s ongoing investment round. Which earlier saw the same amount of investment from the Tiger Global too.”
Founded by Byju Raveendran, BYJU’s is an online education platform that provides learning programs for students in classes 1st to 12th. Till-to-date the company has 42 million registered users and over 3 million paid subscribers with total spending of 71 minutes of daily-video watching on its platform.
In a statement made by Byju Raveendran, Founder & CEO of BYJU’S, he said, “General Atlantic has been one of our strongest partners and this additional investment shows their confidence in our vision, growth, and future. We are happy to see an ever-increasing acceptance for our learning programs in small towns across the country.”
“This is a validation of how technology can make high-quality learning content more accessible to students, irrespective of their geographies. As it has a lot of potentials to further innovate, and how the learning can be made personalized and impactful,” he added.
The company in its filing said that “The company has tripled its revenue from Rs 520 crore to Rs 1,480 crore in FY18-19, and is on the track to double its revenue to Rs 3,000 crore in the current financial year.”