Eruditus is a global leader that lets high-quality education accessible and affordable to everyone including individuals, companies, and governments worldwide. Recently, the company secured $650 million in Series E funding from a combination of primary and secondary funding. With this, the valuation of the company reaches $3.2 billion, which quadruples its Series D valuation in one year.
The financing was co-led by Softbank Vision Fund 2 and Accel. This is among the largest financing secured by an education upskilling platform. Also, Eruditus’ returning investors including Leeds Illuminate, the Chan Zuckerberg Initiative, and Prosus took part in the round. Even existing backers Sequoia Capital India and Bertelsmann participated in the round.
This round comes after Eruditus’s recent acquisition of iD Tech for $200 million, which marked the company’s forayal into the K12 space.
Eruditus will use the proceeds from the funding round for the development of new courses with university partners. Also, it will create new products across verticals, expand its business to serve governments and enterprises, fund acquisitions and double down on new markets.