BYJU’S, the Indian edtech giant, has been making waves in the education industry for quite some time now. The company has been on a funding spree, and its latest funding round has garnered a lot of attention. BYJU’S raised $1 billion in its latest funding round, led by Bond, a global technology investment firm founded by Mary Meeker. The round also saw participation from existing investors like Tiger Global, General Atlantic, and Owl Ventures. The funding has taken BYJU’S valuation to $15 billion, making it the most valuable edtech company in the world.
The funding round has put BYJU’S in the spotlight once again, and it is interesting to understand the significance of sources in the company’s funding journey. In this article, we will take a closer look at the sources of funding that have helped BYJU’S become the behemoth it is today.
Seed Funding – The Beginning of BYJU’S Journey
Every successful company has a beginning, and for BYJU’S, it was seed funding. In 2011, BYJU’S received seed funding from Aarin Capital, which helped the company get off the ground. The initial funding was crucial for BYJU’S as it allowed the company to develop its product and test it in the market.
Series A Funding – Scaling Up Operations
After the success of its initial product, BYJU’S was ready to scale up its operations. In 2013, the company raised $9 million in Series A funding from Sequoia Capital and Sofina. The funding was used to expand the company’s product offerings and reach out to a larger audience.
Series B Funding – Expanding Globally
In 2015, BYJU’S raised $50 million in Series B funding from Sequoia Capital, Sofina, and Lightspeed Venture Partners. The funding was used to expand the company’s product offerings and reach out to a larger audience. The company also started expanding globally, with its first international office in Singapore.
Series C Funding – Consolidating Position in India
In 2016, BYJU’S raised $75 million in Series C funding from Sequoia Capital, Sofina, and Lightspeed Venture Partners. The funding was used to consolidate the company’s position in India and expand its product offerings. The company also launched its learning app, which became an instant hit among students.
Series D Funding – Acquiring Competitors
In 2017, BYJU’S raised $200 million in Series D funding from Tencent, Sequoia Capital, and others. The funding was used to acquire competitors like TutorVista and Edurite. The company also launched its personalized learning app, which uses artificial intelligence to personalize learning for each student.
Series E Funding – Expanding Globally and Acquiring More Competitors
In 2018, BYJU’S raised $540 million in Series E funding from Naspers, Tencent, General Atlantic, and others. The funding was used to expand globally and acquire more competitors like Osmo. The company also launched its K-3 learning app, which focuses on early childhood education.
Series F Funding – Becoming the Most Valuable Edtech Company in the World
In 2019, BYJU’S raised $150 million in Series F funding from Qatar Investment Authority and others. The funding was used to expand globally and develop new products. The company also acquired WhiteHat Jr., a coding platform for kids, for $300 million. The latest funding round has taken BYJU’S valuation to $15 billion, making it the most valuable edtech company in the world.
BYJU’S has come a long way since its seed funding days in 2011. The company’s funding journey has been impressive, and it has used the funds to expand globally, acquire competitors, and develop new products. The latest funding round has taken BYJU’S to new heights, and it will be interesting to see what the company does next. With the education industry undergoing a massive transformation due to the pandemic, BYJU’S is well-positioned to capitalize on the opportunities that lie ahead.