[Funding Alert] BYJU's Raises Investment From Mary Meeker's BOND
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Edtech startup BYJU’S on Friday announced it has raised a new round of funding from BOND, a global technology investment firm.
Commenting on the investment, Byju Raveendran, founder and CEO of BYJU’s, said, "This partnership is a testament to the role that BYJU’S is playing in helping students learn better by customizing our platform to their abilities. It also demonstrates the rising global interest in education technology as digital learning becomes increasingly accepted and embraced.”
He expressed happiness over the association with BOND in a company released statement.
BYJU’s, which entered the prestigious Unicorn club in 2018, has now made content on its learning app free for all students in the wake of the COVID-19 pandemic. BYJU’S has also introduced live classes for further student engagement as schools continue to remain shut.
“This crisis has brought online learning to the forefront and has helped parents, teachers and students alike to experience and understand the value of it,” Raveendran further added.
Founded in 2008 by Divya Gokulnath and Raveendran, BYJU's last year saw tremendous growth and now has over 57 million registered students, more than 3.5 million paid subscribers and annual renewal rates as high as 85 per cent. BYJU’S doubled its revenue from INR 1,430 crore to in FY19INR 2,800 crore in FY20.
Speaking on the latest development, Mary Meeker, General Partner at Bond said, ”Endorsed by millions of students, BYJU’S has emerged as a clear leader in education technology.”
BOND is a global technology investment firm that supports visionary founders throughout their entire life cycle of innovation and growth. The investment firm has backed Spotify, Uber, Docusign, and many more.
“We are excited to support a visionary like Byju and his team in their quest to continue to innovate and shape the future of education,” Meeker added.