PE Fund Investments
Edtech unicorn Eruditus raises $150-M in Series F led by TPG
Edtech unicorn startup Eruditus has raised USD 150 million in a Series F funding round, at a USD 3.1 Billion valuation. Private Equity firm TPG, via its The Rise Fund, led the fundraise with a USD 100 million investment. The remaining funds came from existing investors, including SoftBank, Accel, Leeds Illuminate, CPP Investments, and The Chan Zuckerberg Initiative. The funding round coincides with the company's decision to shift its domicile to India from Singapore.The fully primary capital raised in the round will help Eruditus pursue acquisitions and investments, particularly in India and the US. The company is focusing on acquisitions in sectors such as enterprise solutions and study abroad programmes.Founded in 2010 by Ashwin Damera and Chaitanya Kalipatnapu, Eruditus partners with more than 80 universities worldwide to provide professional learning programmes for working professionals. The company offers over 700 programmes. It has raised more than USD 1 Billion in equity and debt.The company, which follows a July-to-June financial year, reported INR 3,200 crore in revenue in the prior year.
Between Mar 2022 and Apr 2017, Eruditus had raised about USD 1,163.30 M from CPPIB, Accel USA, GSV Ventures, SoftBank Corp, Chan Zuckerberg Initiative, Peak XV Partners, Prosus Ventures, Bertelsmann India Investments and InnoVen Capital.
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