Byju's in talks with private equity firms to raise around $200-300 million
Digital tutoring start-up Byju’s is in talks to raise $200-300 million from at least two new investors, private equity firm General Atlantic and Singapore government-owned Temasek Holdings. The deal, expected to close within the next few weeks, will value Bengaluru-based Byju’s, run by Think and Learn Pvt. Ltd., at $2.2-2.4 billion.
Byju, in July 2017, had raised about $40 million from Tencent, months after raising $30 million from Verlinvest. So far, the company has raised about $244 million from investors including Chan-Zuckerberg Initiative, Sequoia, Sofina, Lightspeed Ventures, Verlinvest, Aarin Capital and Times Internet.
The Bengaluru-based platform has over 20 million users and 1.26 million annual paid subscribers. Through its flagship product, Byju’s-The learning app, it offers learning programmes for class K-12 & test preparation for JEE, AIPMT, CAT, IAS, GRE & GMAT.
Byju’s has been growing at 100% annually for the last three years and recently crossed Rs 100 crore in monthly revenue. It is targeting a revenue of Rs 1,400 crore this financial year.