Silver Lake Backs Edtech Startup Byju’s at $11 Billion Value
- Byju’s has more than 64 million registered online students
- Company doubled revenue in the fiscal year ended March
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Private equity giant Silver Lake led a $500 million funding round for Byju’s that valued the Indian online education platform at around $10.8 billion, a person familiar with the matter said.
Existing backers Tiger Global, General Atlantic and Owl Ventures also took part in the latest funding round, according to the person, who asked not to be named discussing a private deal. The startup remains locked in negotiations over several other rounds of financing. Bloomberg News has reported that Byju’s is close to getting about $400 million from Yuri Milner’s DST Global though that funding has yet to be completed, the person added.