Bengaluru, India – Byju Raveendran, the founder of edtech giant BYJU’S, has become the second richest entrepreneur in the global education sector, after securing funding from new investors.
According to reports, the latest funding round has valued BYJU’S at $16.5 billion, making Raveendran’s net worth around $3.05 billion, surpassing the co-founder of Udemy, Eren Bali, who was previously the second richest in the education sector.
About The Funding
This milestone marks a significant achievement for Raveendran, who founded BYJU’S in 2011. With just a handful of teachers and a few thousand students. Since then, the company has grown exponentially, with over 80 million registered users and a presence in several countries, including the United States and the United Kingdom.
The recent funding round saw the entry of new investors, including the Abu Dhabi sovereign fund, and increased investment from existing backers, such as Tencent and Facebook co-founder Eduardo Saverin.
This influx of investment is a testament to the success of BYJU’S, which has become a household name in India’s edtech space. The company’s learning app offers courses in various subjects, including math, science, and language, and has become a go-to platform for students across the country.
Raveendran’s rise to the second richest entrepreneur in the global education sector is a reflection of the growth of the edtech industry, which has seen significant growth in recent years, especially during the pandemic, as schools and universities shifted to online learning. Moreover, this development also indicates the potential of India’s edtech industry, which is expected to reach a market size of $30 billion by 2025, according to a report by Redseer.
With this new funding, BYJU’S is well-positioned to continue its expansion into new markets and develop innovative products to meet the changing needs of students worldwide. As the company’s founder, Raveendran’s vision and leadership have been instrumental in driving BYJU’S growth and success, making him a key player in the global education sector.
