Blackstone-backed upskilling platform Simplilearn has raised USD 45 million in a funding round led by GSV Ventures, Clal Insurance, and ADQ. Global private equity firm Blackstone has a majority stake in Simplilearn, after it invested USD 250 million in August 2021.
In a statement on Wednesday, Simplilearn said the fresh round of fundraising will further boost its growth prospects across the world. Notably the funding comes at a time when the technology funding ecosystem and the edtech market, in general, are witnessing volatility. The company has seen significant growth in the past year and has added more than 1,20,000 paid business-to-consumer (B2C) learners, and 1,00,000 enterprise learners on its platform. This is in addition to the 2 million free learners that it has, it claimed.
The founder and chief executive Krishna Kumar said this funding comes at a time when the industry is going through turmoil and stands as a testimony to the company’s steady, profitable growth. Deborah Quazzo, Managing Partner, GSV Ventures said like many other sectors, technology is disrupting education, and edtech has been a key focus area for the company.
Founded in 2010, and based in San Francisco and Bangalore, Simplilearn, is a leading online bootcamp for digital economy skills training. It offers access to world-class work-ready training to individuals and businesses around the world.