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Byju's raises $200 mn from Tiger Global as total investments cross $1 bn and valuation hits $8 bn

Byju's raises $200 mn from Tiger Global as total investments cross $1 bn and valuation hits $8 bn

Byju's raises $200 mn from Tiger Global as total investments cross $1 bn and valuation hits $8 bn
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By Mugdha Variyar  Jan 10, 2020 6:34:41 AM IST (Updated)

Online education startup Byju’s has raised $200 million from Tiger Global Management in a new round of investor funding that values it at around $8 billion. Founded by Byju Raveendran, the company has received investments from China’s Tencent, South Africa’s Naspers and the Canadian Pension Plan Investment Board.

Online education startup Byju’s has raised $200 million from Tiger Global Management, ratcheting up its valuation to around $8 billion, said people familiar with the matter.

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With the new round of funding, Byju's has collected more than $1 billion from investors such as China’s Tencent, South Africa’s Naspers and the Canadian Pension Plan Investment Board.
The five-year-old Byju’s had raised roughly $975 million prior to the investment by Tiger Global Management, a private equity firm, according to tracker Crunchbase.
Byju Raveendran, founder and CEO, Byju’s, said Tiger Global Management shares his company’s sense of purpose and this partnership will advance its long-term vision of creating an impact by changing the way students learn. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long term vision,” he said in a statement.
Bengaluru-based Byju’s did not disclose the size of the investment though. CNBC-TV18 gathered details about the investment from the people familiar with the deal. They did not want to be named.
Byju's turned profitable in its standalone business in FY19 while tripling revenue to Rs 1,480 crore.
The company says it has 42 million registered users and 3 million paid subscribers from both rural and urban areas in India.
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