BYJU'S Revenue, Valuation, Funding & Investors
BYJU'S is valued at $225M as of February 2024.
About BYJU'S
BYJU’S is an India-headquartered edtech giant founded in 2011 providing personalized learning apps and programs for pre-K through grade 12 and competitive exams like JEE and NEET in eight languages across more than 21 countries. Its brand portfolio encompasses Disney-BYJU's Early Learn for ages 2-7, Epic reading platform, Osmo interactive kits, Tynker coding courses, Toppr adaptive tests, and WhiteHat Jr coding classes, bolstered by partnerships with Disney and Google for interactive content delivery.
Founded
2011
HQ
BangaloreWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$429M (Mar 2022)
Valuation
$225M (Feb 2024)
BYJU'S Valuation
BYJU'S is currently valued at $225M, based on its undisclosed-stage round in February 2024.
BYJU'S's valuation has moved from $676M at its Series F in March 2017 to $225M in February 2024, across 17 priced rounds.
BYJU'S valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Feb 2024 | Undisclosed stage | $225M | - |
| Oct 2022 | Undisclosed stage | $22B | - |
| Mar 2022 | Undisclosed stage | $22B | 51.3x |
| Sep 2021 | Series F | $375M | - |
| Jun 2021 | Series F | $17B | 29.1x |
| Jun 2021 | Series F | $17B | 63.5x |
| Mar 2021 | Series F | $13B | 228.1x |
| Nov 2020 | Undisclosed stage | $12B | - |
| Sep 2020 | Undisclosed stage | $11B | 41.2x |
| Aug 2020 | Undisclosed stage | $11B | 75.0x |
| Jun 2020 | Undisclosed stage | $11B | 26.3x |
| Jan 2020 | Undisclosed stage | $8B | 31.4x |
| Jul 2019 | Undisclosed stage | $5.8B | 28.8x |
| Mar 2019 | Undisclosed stage | $5B | 100.0x |
| Dec 2018 | Undisclosed stage | $3.8B | 70.4x |
| Aug 2017 | Strategic investment | $776M | 27.7x |
| Mar 2017 | Series F | $676M | 11.9x |
BYJU'S Revenue
BYJU'S's latest recorded revenue is $429M, as of its undisclosed-stage round in March 2022. At a $22B valuation, that implies a 51.3x revenue multiple.
Revenue grew from $57M in March 2017 to $429M in March 2022, while the revenue multiple moved from 11.9x to 51.3x.
BYJU'S revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Mar 2022 | $429M | $22B | 51.3x | Undisclosed stage |
| Jun 2021 | $567M | $17B | 29.1x | Series F |
| Jun 2021 | $260M | $17B | 63.5x | Series F |
| Mar 2021 | $57M | $13B | 228.1x | Series F |
| Sep 2020 | $255M | $11B | 41.2x | Undisclosed stage |
| Aug 2020 | $140M | $11B | 75.0x | Undisclosed stage |
| Jun 2020 | $400M | $11B | 26.3x | Undisclosed stage |
| Jan 2020 | $255M | $8B | 31.4x | Undisclosed stage |
| Jul 2019 | $200M | $5.8B | 28.8x | Undisclosed stage |
| Mar 2019 | $50M | $5B | 100.0x | Undisclosed stage |
| Dec 2018 | $54M | $3.8B | 70.4x | Undisclosed stage |
| Aug 2017 | $28M | $776M | 27.7x | Strategic investment |
| Mar 2017 | $57M | $676M | 11.9x | Series F |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
BYJU'S Funding History
BYJU'S has raised a total of $4.8B across 23 funding rounds, plus 1 secondary share sale.
BYJU'S's first fundraising round was a $9M Series A in September 2013. The most recent completed round was a $300M undisclosed-stage round in February 2024.
BYJU'S funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2024 | Undisclosed stage | - | $300M | $225M | BYJU'S, India's edtech unicorn once valued at $22 billion in early 2022, launched a $200 million rights issue in February 2024 with a post-money valuation of approximately $225 million, representing a 99% reduction from its peak valuation. This dramatic markdown followed a series of setbacks including auditor Deloitte and key board members departing in late 2023, a failed attempt to raise $1 billion in debt, and BlackRock cutting the value of its investment by 95% to roughly $1 billion in January 2024. The rights issue was structured to dilute existing shareholders by approximately 10%, with founder and CEO Byju Raveendran urging major investors including Prosus, Peak XV, and Chan Zuckerberg Initiative to participate to avoid equity dilution. The company faced severe financial challenges including delayed financial reporting for fiscal year 2022, consolidated net losses surging 81% to INR 8,245.2 crore (approximately $1 billion USD) in FY22 from INR 4,564.3 crore in FY21, and technical defaults on debt obligations. BYJU'S had spent over $2.5 billion on acquisitions between 2021 and 2022, and the company's IPO plans valued at up to $40 billion were shelved following Russia's invasion of Ukraine in early 2022 and subsequent market deterioration. |
| Oct 2022 | Undisclosed stage | Qatar Investment Authority (lead) | $250M | $22B | Byju's, founded in 2011 by Byju Raveendran and Divya Gokulnath, is an Indian edtech company providing personalized learning programs for K-12 students and exam preparation courses for competitive tests such as JEE, NEET, and IAS. The company offers video-based learning through its mobile app, which launched in 2015, and has expanded through acquisitions including Aakash Institute in 2021 and Great Learning. In November 2022, Byju's raised $250 million in primary funding from existing investors including Qatar Investment Authority (QIA) at a post-money valuation of $22 billion. The round came as part of a broader $400-500 million funding effort, with discussions underway with TPG and other investors. The company claimed over 150 million users at the time of the round. However, secondary market transactions over the preceding 12 months had valued the company between $16 and $17 billion, and new external investors were offering valuations significantly lower at $11-12 billion, suggesting deterioration in investor sentiment. The round occurred amid macroeconomic headwinds and came weeks before the company announced significant layoffs, highlighting mounting challenges in the business despite the flat valuation maintained by existing investors. |
| Mar 2022 | Undisclosed stage | Byju Raveendran (lead); Sumeru Ventures; BlackRock; Vitruvian Partners | $800M | $22B | Byju's, an India-based edtech unicorn, reached its peak valuation of $22 billion in October 2022 when it raised a $250 million funding round. At that time, the company reported FY2022 revenue of approximately $429 million (₹3,569 crore), representing 2.3x growth from the previous year's ₹1,552 crore. However, the company was unprofitable, reporting an EBITDA loss of ₹2,253 crore in FY2022, a marginal improvement from the ₹2,406 crore loss in FY2021. This resulted in a valuation-to-revenue multiple of approximately 51x, indicating the company was valued significantly above its revenue generation at the peak of the market cycle. Following this peak, Byju's valuations were subsequently marked down substantially by major investors including Prosus, reflecting deteriorating business performance and governance concerns that emerged in the years following this funding round. |
| Oct 2021 | Series F | Oxshott Capital Partners (lead); XN; Verition Fund Management; MarketX Ventures; Edelweiss.vc; Northwood Ventures; Chan Zuckerberg Initiative; IIFL Finance; Time Capital; GenGlobal Bright Corp. | $360M | - | BYJU'S, an Indian edtech giant founded in 2011 by Byju Raveendran, provides online learning platforms for K-12 students and has aggressively expanded internationally through acquisitions amid pandemic-driven demand. In October 2021, it raised approximately $300 million (Rs 2,200 crore) in a Series F extension tranche led by Oxshott Capital Partners, with participation from Edelweiss, IIFL Finance, Verition Fund Management, XN Exponent Holdings, and others including Time Capital Advisors. This tranche valued the company at $18 billion post-money, up from $16.5 billion in June 2021, as per regulatory filings reported by Tofler and covered by TechCrunch and VCCircle. The investment is part of a larger ongoing round expected to exceed $21 billion valuation. The round followed earlier 2021 raises, including over $1 billion in April led by Baron Funds, B Capital Group, and XN, and $1.5 billion in June from UBS, ADQ, and Blackstone at $16.5 billion. BYJU'S has pursued aggressive M&A, spending over $2.2 billion on acquisitions that year, while preparing for a potential IPO with banker valuations up to $50 billion. Investors in prior rounds included Chan Zuckerberg Initiative, though not specified in this tranche. Financial filings show consolidated net sales growth of around 80% in FY20 (ending March 2020) versus FY19, but losses expanded significantly. No explicit revenue, ARR, or EBITDA figures for 2021 or near the round date appear in sources using required terms. The company was India's most valuable startup at the time, surpassing Paytm, fueled by online learning boom during COVID lockdowns. |
| Sep 2021 | Series F | Asmaan Ventures (lead); Mirae Asset; Jaws Ventures; ARK Ncore | $149M | $375M | BYJU's, India's leading edtech unicorn offering online learning programs for K-12 and exam prep, raised $150 Mn in a Series F funding tranche in September 2021 led by Asmaan Ventures, with participation from Mirae Asset and ARK Ncore. This investment valued the company at over $16.8 Bn post-money, part of a larger $1 Bn pre-IPO round amid aggressive expansion including eight acquisitions that year like Gradeup. The company had raised over $1.3 Bn in the prior 18 months from investors including UBS, Blackstone, and ADQ. Financially, BYJU's reported stand-alone revenue of INR 2,434 Cr and net profit of INR 51 Cr in FY20 (ending March 2021), with revenue growing 81% YoY and profit up 152%, though expenses reached INR 2,383 Cr. This positioned it as a profitable entity on a stand-alone basis in FY20 and FY19 per MCA filings. The funding came after prior Series F closes totaling hundreds of millions from IIFL, UBS, and others. BYJU's was accelerating global expansion, marking its eighth 2021 acquisition with Gradeup and eyeing Great Learning, while consolidating in K-12 against rivals like Unacademy and Vedantu. Earlier rounds had lifted valuation from $3.7 Bn in 2018 to $8 Bn in early 2020. The company planned an IPO as early as Q2 2022, backed by marquee investors like General Atlantic, Sequoia, and Tiger Global. |
| Jun 2021 | Series F | IIFL Finance (lead) | $49M | $17B | Byju's, an Indian edtech unicorn founded in 2011 and based in Bangalore, provides online learning platforms targeting K-12 students and exam preparation, with expansions into international markets like the US, UK, Brazil, Indonesia, and Mexico via its Future School platform. In June 2021, it raised $50 million in a Series F round led by IIFL's private equity fund with $35 million, alongside Maitri Edtech's $15 million, as per regulatory filings accessed via Tofler. This followed a $340 million raise valuing the company at $16.5 billion, maintaining that post-money valuation and positioning Byju's as India's most valuable startup ahead of Paytm. The round contributed to Byju's raising over $1.5 billion in 2021 alone, part of broader Series F efforts including prior tranches from BlackRock, T. Rowe Price, UBS, Blackstone, ADQ, Eric Yuan, and others. Total funding exceeded $2.7 billion by mid-2021, with marquee investors like Tiger Global, Sequoia Capital, Tencent, Naspers, Silver Lake, and Chan Zuckerberg Initiative. The company was funding acquisitions like Aakash Educational Services for nearly $1 billion and capitalizing on COVID-19-driven demand, adding 45 million users from Tier II+ towns to reach 80 million total users and 5.5 million paid subscribers, with an 86% course renewal rate. Byju's valuation had doubled from $8 billion in January 2020 after a $200 million Tiger Global round, reaching $16.5 billion and making it the world's highest-valued edtech startup. Competitors like Unacademy ($2 billion valuation) and Vedantu ($600 million) trailed significantly. Subsequent reports noted additional raises, like a $300 million extension at $18 billion potentially heading to $21 billion, with IIFL returning alongside Oxshott Capital and others, though the specific June IIFL-led tranche held the $16.5 billion mark. |
| Jun 2021 | Series F | UBS (lead); ADQ; Beacon Holding; Blackstone; Phoenix Rising Investments; Eric Yuan | $350M | $17B | BYJU'S, an Indian edtech company offering online learning programs including recorded classes and streaming services, reported consolidated total income of INR 2,428.3 Cr in FY21 (year ended March 2021), down 3.3% from INR 2,511.7 Cr in FY20 due to changes in revenue recognition practices. Revenue from operations was INR 2,280 Cr, a marginal increase from INR 2,188.9 Cr, with approximately 40% of FY21 revenue deferred to future periods because of new accounting for multi-year subscriptions, streaming access during COVID-related delays, and credit/EMI collections. India revenue declined nearly 40% to INR 987 Cr from INR 1,600 Cr. The company posted massive losses of INR 4,588-4,589 Cr in FY21, up significantly from INR 231.69 Cr in FY20, driven by higher employee and promotional expenses, including cricket team sponsorships, and contributions from acquisitions like WhiteHat Jr which accounted for 26.73% of losses. Unaudited projections had estimated revenue around INR 4,400 Cr but were revised downward after 18-month delayed audited filings in September 2022. Post-FY21, BYJU'S claimed INR 10,000 Cr gross revenue in FY22 and INR 4,350 Cr in the first four months of the next year. December 2021 funding round involving ADQ, Beacon Holding, Blackstone, Eric Yuan, Phoenix Rising Investments, and lead investor UBS Fund Management at $350M. BYJU'S valuation reached $22B amid $2.5B raised since the pandemic start. The company pursued aggressive acquisitions like Aakash, Great Learning, and others, amid edtech boom and subsequent market shifts. |
| Mar 2021 | Series F | MC Global Edtech Investment Holdings (lead); XN; Volta Circle; Tiga Investments; SquareOne Capital; Arison Investments; Baron Capital; TCDS India LP; B Capital; Tarsadia Investments | $460M | $13B | BYJU'S, India's leading edtech company offering an app with educational content, exam preparation, and gamified learning tools for children aged 4-18, raised $457-460 million in a Series F funding tranche around March 29, 2021, led by MC Global Edtech Investment Holdings with participation from Arison Holdings, B Capital Group vehicles, Baron Emerging Market Fund, Baron Global Advantage Fund, TCDS India LP, Tiga Investments, and XN Exponent Holding. The deal valued BYJU'S in excess of $13 billion post-money, according to Fintrackr data reported by Entrackr, with ongoing fundraising expected to include an additional $150 million potentially pushing valuation past $15 billion. Promoters including founder Byju Raveendran held 26.1% stake post-tranche. This round kicked off BYJU'S aggressive 2021 fundraising, totaling around $1 billion across four rounds by June, elevating its status as India's most valuable startup at $16.5 billion by mid-2021 after surpassing Paytm. The company had previously raised over $1 billion in 2020, including a $500 million round at $10.8 billion valuation led by Silver Lake. BYJU'S was aggressively expanding globally and through acquisitions, spending over $2 billion in 2021 on Aakash Educational Services for $1 billion, Great Learning for $600 million, Toppr for $150 million, and Epic for $500 million. The funding supported BYJU'S dominance in India's B2C edtech space amid a sector boom, securing ~76% of 2021 edtech funding alongside Unacademy. |
| Nov 2020 | Undisclosed stage | T. Rowe Price; BlackRock | $200M | $12B | BYJU'S, a Bengaluru-based edtech decacorn founded by Byju Raveendran, provides online learning programs for K-12 students and was in final stages of raising $200 Mn in equity funding from existing investor BlackRock and new investor T. Rowe Price around November 2020. This fresh round, separate from a prior $500 Mn raise in September 2020 at $10.8 Bn to $11.1 Bn valuation, valued the company at $12 Bn post-money, marking an 11% increase and achieving decacorn status. The funding contributed to over $1 Bn raised in equity that year from various VCs, PE firms, and hedge funds including Silver Lake, DST Global, General Atlantic, Tencent, Prosus, Sequoia, and others. The capital was earmarked for global expansion and financing acquisitions, following the $300 Mn cash acquisition of WhiteHat Jr in August 2020 to bolster coding education offerings. Amid the COVID-19 pandemic, BYJU'S saw explosive growth, doubling revenues from INR 1,430 Cr in FY19 to INR 2,800 Cr in FY20, adding over 25 Mn new students since lockdown, reaching 64-73 Mn registered students and 4.2-5.1 Mn paid subscribers by late 2020. This positioned BYJU'S ahead of competitors like Unacademy, which entered unicorn status with a $150 Mn SoftBank-led round in September 2020. The edtech sector in India attracted $1.5 Bn in investments in the first nine months of 2020, up fourfold from 2019, driven by pandemic-accelerated online adoption. BYJU'S was also eyeing an IPO, though timelines remained undecided. |
| Sep 2020 | Undisclosed stage | Silver Lake (lead); Sands Capital Ventures; Owl Ventures; General Atlantic; BlackRock; Tiger Global; Alkeon Capital | $500M | $11B | BYJU'S, an Indian edtech company offering the BYJU'S Learning App with premium subscription-based content, achieved unicorn status prior to 2020 and saw rapid revenue growth amid the COVID-19 pandemic. In June 2020, it secured investment from Bond, a global technology investment firm, reaching a US$10.5 billion valuation, positioning it as a decacorn. The company reported FY2020 revenue of ₹2,381 crore, up significantly from ₹490 crore in FY2018 and ₹1,376 crore in FY2019, though it posted losses of ₹262.1 crore that year. The specified investors including Silver Lake, Alkeon Capital, BlackRock, General Atlantic, Owl Ventures, Sands Capital Ventures, and Tiger Global align with Byju's major backers during its high-growth phase. A subsequent November 2020 round raised US$200 million led by BlackRock and T. Rowe Price at a $12 billion valuation. Byju's leveraged pandemic-driven demand, adding 7.5 million users with free access and grossing ₹350 crore in April 2020 alone, while integrations like the US-based Osmo acquisition contributed $100 million in its first full year. Financials showed operational challenges with mounting losses, reaching ₹8,245 crore by FY2022 on ₹5,298 crore revenue, amid aggressive acquisitions and international expansion into markets like the US, UK, Middle East, and Africa. |
| Aug 2020 | Undisclosed stage | DST Global (lead) | $122M | $11B | BYJU'S, operated by Think and Learn Pvt. Ltd., is India's leading edtech company offering K-12 learning apps, competitive exam programs like JEE, NEET, and IAS preparation, with over 64 million registered students and 3.5 million annual paid subscriptions as of 2020. In August 2020, it raised $122 million (Rs 901.6-909 crore) from Yuri Milner-led DST Global as part of its ongoing Series F funding round, with DST acquiring a 1.2% stake. This tranche valued the company at $10 billion, following prior investments including $200 million each from Tiger Global in January 2020 (at $8 billion valuation) and General Atlantic in February 2020 (post-money $8.2 billion), plus an undisclosed amount from Bond Capital valuing it at $10 billion. The DST Global investment came amid reports of Byju's targeting up to $400 million in the Series F at $10 billion valuation, building on nearly half a billion dollars raised that year. Financials for FY ended March 2019 showed consolidated net sales of Rs 1,305.92 crore and losses of Rs 8.83 crore. During April-May 2020 lockdown, it reported $99 million combined revenue. The company pursued aggressive expansion, completing at least six acquisitions including WhiteHat Jr for $300 million earlier that month. Byju's stood as one of India's most heavily funded startups, with early backers like Sequoia Capital India, Lightspeed, and Chan Zuckerberg Initiative. This DST round preceded further raises like from BlackRock, Sands Capital in September 2020 reportedly at $11.1 billion valuation. |
| Jun 2020 | Undisclosed stage | Bond (lead) | $100M | $11B | Byju's is an Indian education technology startup founded by Byju Raveendran that provides personalized online learning through its mobile app, customizing content to students' abilities and learning pace. The platform serves millions of students across India and internationally, with a particular focus on K-12 education and test preparation. By June 2020, Byju's had become India's second-most valued startup, with a registered student base of over 57 million and approximately 3.5 million paid customers. The company had achieved profitability in FY19 (fiscal year ending March 2019) with revenues of $189 million (Rs 1,430 crore). In the fiscal year ending March 2020, the company doubled its revenues to Rs 2,800 crore (approximately $400 million USD), with international revenues—primarily from the US market—growing from $25 million to $70 million. Byju's raised an undisclosed amount from Bond Capital, the venture fund founded by renowned tech analyst Mary Meeker, at a post-money valuation of $10.5 billion in June 2020. Sources estimated the Bond investment at less than $100 million in primary shares, though Bond was simultaneously acquiring secondary shares from existing investors at different valuations, reflecting the complex capital structure of late-stage startups. This investment marked Bond Capital's first backing of an Indian startup and made Byju's the world's first "decacorn" (edtech company valued above $10 billion). The company planned to deploy the capital toward global expansion and acquisitions, including a reported potential acquisition of Doubtnut, an online tutoring platform for math and science, valued at up to $150 million. Byju's investor base by this time included marquee names such as Naspers, Sequoia Capital, Tencent, General Atlantic, and Tiger Global, reflecting strong investor confidence in the edtech sector during the pandemic-driven acceleration of digital learning adoption. |
| Jan 2020 | Undisclosed stage | Tiger Global (lead); General Atlantic | $200M | $8B | - |
| Jul 2019 | Undisclosed stage | Qatar Investment Authority (lead); Owl Ventures; Sovereign Wealth Fund Institute | $150M | $5.8B | BYJU'S, India's leading edtech startup offering learning apps downloaded over 35 million times with 2.4 million paying subscribers, raised $150 million in July 2019 led by Qatar Investment Authority (QIA) with participation from Owl Ventures. The round valued the company at $5.75 billion post-money, up from nearly $4 billion seven months prior after a $400 million raise led by Naspers. This brought BYJU'S total funding close to $1 billion at the time. For FY 2019 ended March 2019, BYJU'S reported over $200 million (INR 14.3 billion) in revenue and claimed profitability on a full-year basis. The investment validated strong fundamentals, with 85% annual renewal rates particularly from small towns and cities, highlighting growing acceptance of digital learning in India. QIA's involvement marked its second major Indian tech investment after Flipkart. Founder Byju Raveendran emphasized the deal's significance for India's edtech leadership globally. Subsequent rounds included a $250 million raise in October 2022 with QIA participation at $22 billion valuation, but relations soured leading to legal disputes over a $235 million arbitral award against Raveendran. |
| Mar 2019 | Undisclosed stage | General Atlantic (lead); Tencent (lead); CPP Investments | $31M | $5B | BYJU's, operated by Think & Learn Pvt. Ltd., is a Bengaluru-based edtech unicorn founded in 2015 by Byju Raveendran, offering personalized learning programs via an app for students based on proficiency levels. In March 2019, it raised approximately Rs 214-215 crore ($31.3 million) from existing investors General Atlantic and Tencent through issuance of Series F Compulsory Convertible Cumulative Preference Shares, as per RoC filings. TechCircle estimated the post-money valuation at $5.44 billion (Rs 37,347 crore). This followed a prior smaller tranche from General Atlantic at $3.85 billion valuation earlier in the month and a larger $540 million round in December 2018 led by Naspers with CPPIB participation at around $3.6-4 billion. The funding supports international expansion and acquisitions, including the recent purchase of US-based Osmo for $120 million in January 2019 to bolster K-3 programs. Financially, BYJU's reported net sales of Rs 471 crore for FY 2017-18, up from Rs 230 crore prior year, with net loss narrowing to Rs 37 crore from Rs 61 crore despite rising expenses. COO Mrinal Mohit indicated plans to triple revenue to Rs 1,400 crore in FY 2018-19. Other reports noted monthly revenues crossing Rs 100 crore and profitability in June prior, with FY2019 standalone revenue at Rs 1,341 crore and small profit. BYJU's had raised about $795.5 million across nine rounds by then from investors like Sequoia Capital, Sofina, Naspers, Chan Zuckerberg Initiative, and Aarin Capital, positioning it as India's most-valued edtech and among top startups globally. Valuations varied across reports from over $4 billion to $5 billion+ for this round, with some sources citing $5 billion mark crossed. |
| Dec 2018 | Undisclosed stage | Prosus (lead); CPP Investments; General Atlantic; Boundary Holding | $540M | $3.8B | BYJU'S, operated by Think and Learn Pvt. Ltd., is a Bengaluru-based edtech startup providing educational services through its app, including fees for learning programs, sales of tablets, worksheets, and DVDs. In December 2018, it raised $540 million (Rs 3,855 crore) in a funding round led by Naspers (now Prosus), with participation from other investors, valuing the company at around $3.8 billion and marking a significant milestone in its growth trajectory. This round followed prior funding and acquisitions, such as Math Adventures in 2017, positioning BYJU'S as a leader in India's edtech space. For FY18 (ended March 2018), BYJU'S reported gross revenue of Rs 500.21 crore, including non-operating income, up from Rs 248.12 crore the prior year, driven by net sales of Rs 471.18 crore from educational services. Operating revenue doubled, offsetting rising expenses, with net loss narrowing to Rs 37.15 crore from Rs 61.23 crore despite total expenses reaching Rs 537.38 crore. The company targeted tripling revenue to Rs 1,400 crore in FY19, supported by 30 million app downloads and 2 million paid users at the time. BYJU'S had entered unicorn status earlier in 2018 with valuations cited between over $1 billion and $1.8-2 billion in other rounds, but the December 2018 round elevated it to $3.8 billion post-money. It demonstrated strong growth with monthly revenue around Rs 100 crore and 85% subscriber renewal rates, aiming for 100%+ YoY growth. The startup employed thousands and focused on personalized learning, competing in India's burgeoning edtech market with apps boasting millions of subscribers and paid users. |
| Aug 2017 | Strategic investment | Tencent (lead) | $40M | $776M | BYJU'S, operating as Byju’s Learning, is a Bangalore-based edtech startup founded in 2011 by Byju Raveendran, offering online learning programs for school subjects, competitive exams like JEE, NEET, CAT, IAS, GRE, and GMAT through its app, which had been downloaded millions of times and used in over 1700 cities worldwide by 2017. The funds were earmarked for product development in new markets and acquisitions, following prior rounds including $75 million from Sequoia and Sofina in March 2016 at $650 million valuation, $50 million led by Chan Zuckerberg Initiative in September 2016, and $15 million from IFC in December 2016. The company had made acquisitions like Vidyartha in January 2017 and TutorVista/Edurite from Pearson earlier that month, positioning it as a leader in India's edtech sector. BYJU'S continued aggressive fundraising post this round, reaching unicorn status and beyond in subsequent investments, with total funding exceeding $200 million by mid-2017 from prominent backers like Sequoia, CZI, Sofina, Aarin Capital, Lightspeed, Times Internet, and Verlinvest. |
| Mar 2017 | Series F | Verlinvest (lead) | $30M | $676M | BYJU'S, an India-based edtech startup founded by Byju Raveendran in 2011, offers a learning app for K-12 students with presence in India and the Middle East, targeting expansion to the USA, UK, South Africa, and other markets. In March 2017, it raised approximately $30 million from Verlinvest in a Series E round at a post-money valuation of $676 million, with sources varying slightly between $600 million and $700 million. The funds were intended to support international growth, acquisitions like potential US gaming apps, and deeper domestic market penetration through marketing. At the time, BYJU'S had attracted around 8 million students to its app, with 400,000 paid annual subscriptions and 90% renewal rates. It had previously raised about $174 million from investors including Chan Zuckerberg Initiative, Sofina, Sequoia, Lightspeed Ventures, and Times Internet, bringing total funding near $200 million post-Verlinvest. The company had also launched Byju’s Math App for grades 4-5 and acquired Vidyartha, a data-driven learning platform. This round followed a $75 million raise in March 2016 from Sequoia and Sofina, a $50 million round in September 2016 co-led by Chan Zuckerberg Initiative, and a $15 million investment from IFC in December 2016, plus venture debt and secondary transactions totaling over $160 million in 2016. Verlinvest, which had invested in Sula Vineyards and XSEED, entered at a higher valuation than prior rounds amid a cooling Indian startup funding environment. |
| Dec 2016 | Series E | IFC Venture Capital Group (lead); InnoVen Capital | $15M | - | - |
| Sep 2016 | Series D | Chan Zuckerberg Initiative (lead); Peak XV Partners (lead); Lightspeed Venture Partners; International Finance Corporation; Times Internet; Sofina | $50M | - | BYJU'S, an Indian edtech company founded in 2008 by Byju Raveendran and Divya Gokulnath, offered digital learning solutions through its app, focusing on premium subscription-based content for K-12 students. In FY16 (April 2015-March 2016), it reported gross revenue of $16 million (INR 110 crore), with total expenses at $23 million (INR 156 crore), resulting in a net loss of $7.2 million (INR 50 crore). The company was in a high-growth phase, doubling revenue in the following FY16-17 to $36 million (INR 247 crore), with an ARR of $9.3 million and 75% CAGR as of FY16-17 analysis. BYJU'S financial trajectory showed exponential revenue growth post-2016, from INR 110 crore in FY16 to INR 490 crore in FY18, but with persistent losses, such as INR 29 crore in FY18 and escalating to INR 8,245 crore by FY22. The company expanded aggressively through acquisitions and international markets like the US, UK, Middle East, and Africa, but later faced challenges including governance issues, high operational costs, and liquidity crunches, leading to valuation drops from peak $22 billion. |
| Mar 2016 | Series C | Lightspeed Venture Partners; Lightspeed India Partners; Sofina; Peak XV Partners | $75M | - | In FY16-17, BYJU'S demonstrated strong growth metrics with an Annual Run Rate (ARR) of $9.3 million and a Compound Annual Growth Rate (CAGR) of 75%. The company's gross revenue for FY16-17 jumped to $36 million (INR 247 crore) from $16 million (INR 110 crore) in the previous year, representing 124% year-on-year growth. Total expenses grew 87% to $43 million (INR 291 crore), while net losses increased 19% to $8.7 million (INR 59 crore). The gap between revenue and expense narrowed significantly, decreasing by 57% from -41% in FY15-16 to -18% in FY16-17, suggesting a trajectory toward profitability within two years. BYJU'S had entered the unicorn club by this period and was expanding internationally into the Middle East, United States, United Kingdom, South Africa, and other African and Commonwealth markets. |
| Jan 2016 | Secondary | Lightspeed Venture Partners (lead) | $20M | - | - |
| Jul 2015 | Series B | Aarin Capital (lead) | $25M | - | - |
| Sep 2013 | Series A | Aarin Capital (lead) | $9M | - | BYJU'S raised $9 million in its Series A round on September 1, 2013, from Aarin Capital. This was the company's first institutional funding following its seed stage. The round supported early growth in its edtech offerings focused on learning programs for competitive exams and school grades. Aarin Capital, a strong educational investor, led the round. Sources confirm the amount raised as $9 million, equivalent to around Rs 50 crore at the time. BYJU'S, founded in 2011 by Byju Raveendran and Divya Gokulnath in Bengaluru, later achieved unicorn status valued at $1 billion by March 2018 and peaked at $22 billion in 2022. |
Who has invested in BYJU'S?
58 investors have backed BYJU'S across its funding rounds, including General Atlantic, Lightspeed Venture Partners, BlackRock, Tiger Global, Peak XV Partners and Tencent.
Lead investors include Qatar Investment Authority, Byju Raveendran, Oxshott Capital Partners, Asmaan Ventures, IIFL Finance and 15 other investors.
BYJU'S Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 New York City, NY | 4 | Lead | Dec 2018 | |
| United States | 3 | Participant | Sep 2020 | |
| San Francisco, CA | 3 | Lead | Jan 2016 | |
| New York City, NY | 2 | Participant | Mar 2021 | |
 Qatar | 2 | Lead | Jul 2019 | |
 Shenzhen | 2 | Lead | Aug 2017 | |
 Toronto | 2 | Participant | Dec 2018 | |
| San Francisco, CA | 2 | Participant | Jul 2019 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Aarin Capital | India | 2 | Lead | Sep 2013 |
| San Francisco, CA | 2 | Lead | Sep 2016 | |
| New York City, NY | 2 | Lead | Jan 2020 | |
| Mumbai | 2 | Lead | Jun 2021 | |
 Brussels | 2 | Participant | Mar 2016 | |
This data is available for Pro users. Sign up to see all 58 BYJU'S investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by BYJU'S
BYJU'S has acquired 17 companies to date.
Last acquisition by BYJU'S was on December 8th 2021. BYJU'S acquired GeoGebra for $100M.
Latest Acquisitions by BYJU'S
| Description | GeoGebra is an international provider of dynamic mathematics software combining geometry, algebra, spreadsheets, graphing, and calculus in one interactive tool. The free platform supports interactive learning for students and teachers worldwide, with apps available on web, desktop, and mobile. GeoGebra serves over 100 million users annually and integrates with curricula in schools across Europe, North America, and Asia. Launched in 2001 from Graz, Austria, it offers classroom materials and assessment features. | Tynker is a visual programming platform for children aged 5 to 18. San Francisco-headquartered, it serves millions of users through self-paced online courses and school curricula. Kids create games, apps, animations, and mods for Minecraft using drag-and-drop blocks that transition to JavaScript and Python. Tynker integrates with robots like LEGO Mindstorms and drones, fostering computer science skills in over 100 countries. | Whodat is an AR platform leveraging computer vision technology to enable developers to create applications with precise location accuracy surpassing GPS limitations. Originally developed for augmented reality experiences, its core engine now supports mobility solutions and robotics projects. Based in India, Whodat provides SDKs that allow real-time environmental mapping and object recognition for immersive apps. | Epic is a children's digital media company offering an online reading platform with over 40,000 books, audiobooks, and videos. Based in the United States, the service supports K-8 learning in a safe environment, integrating with schools and families for personalized reading experiences via web and iOS apps. | |
| HQ Country |  | | | | |
| HQ City | Linz | San Francisco, CA | Bangalore | San Francisco, CA | |
| Deal Date | 8 Dec 2021 | 13 Sep 2021 | 4 Aug 2021 | 21 Jul 2021 | |
| Valuation | $100M | $200M | undisclosed | $500M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all BYJU'S acquisitions and their M&A valuation multiples. Start Free Trial | |||||
BYJU'S Competitors
BYJU'S competitors include listed companies like MegaStudyEdu and I-Scream Media, and private ones like Play Shifu, Skillmatics, Cuemath and Bhanzu.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Bangalore | Private | $12M | $1M | $204M | 17.0x | |
 South Korea | Publicly listed | $644M | $139M | $263M | 0.4x | |
| South Korea | Publicly listed | $143M | $48M | $171M | 0.7x | |
| Mumbai | Private | $20M | - | $128M | 6.4x | |
| Bangalore | Private | $10M | - | $407M | 40.7x | |
| Hyderabad | Private | $12M | - | $120M | 10.0x |
BYJU'S Public Comps
BYJU'S is still privately-owned, but its public comps include Alkhaleej Training, TIANLI Education, Ânima Educação, Franklin Covey, China Beststudy Education, China YuHua Education, SISB, MegaStudyEdu, OranjeBTC and I-Scream Media.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $325M | $49M | 1.8x | - | 12.2x | - | |||
| $535M | $187M | 1.0x | 1.1x | 3.0x | 3.2x | |||
| $782M | $297M | 1.5x | 1.4x | 3.8x | 4.0x | |||
| $267M | $15M | 0.7x | 0.7x | 12.6x | 6.2x | |||
| $284M | $76M | 0.5x | - | 1.9x | - | |||
| $372M | $246M | - | - | - | - | |||
| $75M | $36M | 2.9x | 2.8x | 6.0x | 6.6x | |||
| $644M | $139M | 0.4x | 0.4x | 2.0x | 1.9x | |||
This data is available for Pro users. Sign up to see all BYJU'S competitors and their valuation data. Start Free Trial | ||||||||
Common questions about BYJU'S
| When was BYJU'S founded? | BYJU'S was founded in 2011. |
| Where is BYJU'S headquartered? | BYJU'S is headquartered in Bangalore, India. |
| Is BYJU'S publicly listed? | No, BYJU'S is a private, VC-backed company. |
| What is BYJU'S's valuation? | BYJU'S was last valued at $225M in its undisclosed-stage round in February 2024. |
| How much funding has BYJU'S raised? | BYJU'S has raised $4.8B across 23 funding rounds. |
| What was BYJU'S's last funding round? | BYJU'S's last funding round was a $300M undisclosed-stage round in February 2024. |
| Who are BYJU'S's investors? | BYJU'S's investors include General Atlantic, BlackRock, Lightspeed Venture Partners, XN, Qatar Investment Authority, Tencent, CPP Investments, Owl Ventures, Aarin Capital, Chan Zuckerberg Initiative and 48 others. |
| What is BYJU'S's revenue? | BYJU'S's latest recorded revenue is $429M (March 2022). |
| What is BYJU'S's revenue multiple? | BYJU'S's latest valuation implies a 51.3x revenue multiple ($22B valuation on $429M of revenue). |
| Which companies are comparable to BYJU'S? | Companies comparable to BYJU'S include Play Shifu, MegaStudyEdu, I-Scream Media, Skillmatics, Cuemath and Bhanzu. |
| How many companies has BYJU'S acquired? | BYJU'S has acquired 17 companies, including GeoGebra, Tynker, Whodat, Epic and Toppr. |
| What was the largest acquisition by BYJU'S? | The $950M acquisition of Aakash Educational Services in January 2021 is the largest acquisition BYJU'S has made to date. |
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