India-based EdTech startup Scaler Academy has recently raised US$55 million in funding in its Series B round led by new investor Lightrock India along with participation from existing investors Tiger Global and Sequoia Capital India. The funding round takes the startup’s valuation at US$710 million.
Abhimanyu Saxena, Co-Founder, Scaler & InterviewBit, said. “We were humbled by the strong interest shown by the global investing community who want to be part of Scaler’s future and play a significant role in shaping India’s technology skill space. We decided to go with Lightrock India and our existing investors (Sequoia Capital India & Tiger Global), who share our vision of what we are trying to do at Scaler.”
This fresh infusion of funds will allow Scaler Academy to aggressively pursue its international expansion plans, launch new business verticals/ product offerings, make strategic acquisitions, invest in new talent, and grow its customer base both in India and globally.
Divya Venkatavaraghavan, Principal Investor, Lightrock India, said, “The team at Scaler Academy (& InterviewBit) are transforming higher education in India by democratising the privilege of working in technology for millions of Indians. They are building a learning community that is accountable for outcomes and designed for the future of work.”
Shailendra J. Singh, Managing Director, Sequoia Capital (India) Singapore, said, “To us, the most distinctive part of Anshuman and Abhimanyu’s strategy is that they are super focused on extremely high-quality computer science education, delivered with their own unique approach that makes their programs practical and useful in the work environment. This is resulting in outstanding student NPS and exceptional job placements for Scaler students.”
About Scaler Academy
Founded in 2019 by Abhimanyu Saxena and Anshuman Singh, Scaler Academy focuses on upskilling college students and tech professionals. Its meticulously structured online program effectively enhances the coding skills of professionals by creating a modern curriculum with exposure to the latest technologies.
The startup claims that nearly 7 out of every 10 startup unicorns in India now has a Scaler alumni. Scaler Academy has partnered with companies including, Google, Microsoft, Uber, Paypal, Amazon, VMWare, Adobe, Mcafee, and Intuit for placements.