Eruditus Mission: Make Quality Education Affordable
Making High-Quality Education Affordable and Accessible Through $650 Million Capital Raise Led by Accel and Softbank Vision Fund 2
Eruditus is making high-quality education accessible and affordable to individuals, companies, and governments around the world, announced today a $650 million funding round, through a mix of primary and secondary funding, which values the company at $3.2 billion, quadrupling its Series D valuation from August 2020. The investment, led by Accel and Softbank Vision Fund 2, is one of the largest for an education upskilling platform. It also marks Accel’s largest single EdTech investment.
Accel and SoftBank Vision Fund 2 join Emeritus’ returning investors, the Chan Zuckerberg Initiative, Leeds Illuminate and Prosus, who participated in the round, and existing investors, Sequoia Capital India and Bertelsmann. Avendus Capital acted as the exclusive financial advisor to Eruditus on the transaction. The Series E funding follows Eruditus’ recent $200 million acquisition of iD Tech, the world leader in youth STEM education, which marked Eruditus’ expansion into the K12 space.
Proceeds from the round will be used to develop new courses in conjunction with university partners, create new products and industry verticals, expand the company’s business serving governments and enterprises, double down on new geographical markets, and fund acquisitions.
Around The World