Byju's raises US$ 250 million from existing investors, valuation remains at US$ 22 billion
- IBEF
- October 18, 2022
The edtech behemoth Byju's has raised US$ 250 million from its current investors as it aims to become profitable by March 2023. According to the sources, the Bengaluru-based company is still worth US$ 22 billion as nothing has changed since this funding.
Sumeru Ventures, Vitruvian Partners, BlackRock, Chan-Zuckerberg Initiative, Sequoia, Silver Lake, Bond, Tencent, General Atlantic, Tiger Global, and Qatar Investment Authority are just a few of the investors who have contributed to Byju's US$ 5.5 billion total investment raise.
In the coming six months, the company plans to add 10,000 teachers to its existing strength of 20,000 teachers. Along with bringing on senior leadership, the company is growing its teams to strengthen operations even more. The company's optimisation plan, which aims to achieve profitability by March 2023, will heavily rely on its hiring strategy.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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