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Simplilearn raises $45m from GSV, others

Simplilearn raises $45m from GSV, others


BENGALURU: Amid the funding winter, skilling company Simplilearn has raised $45 million led by GSV Ventures, a multi-stage VC firm focused on the edtech space. Sources told TOI that the deal values the company at over $500 million.
Last year, Blackstone invested $250 million to acquire a majority stake in the Bengaluru-based firm.
Krishna Kumar, co-founder & CEO of Simplilearn, said the funding is a strong validation that their business is differentiated. “Liquidity gives us an opportunity to explore acquisitions. We will add programmes. We don’t have anything for freelance and HR professionals. We are partnering with many universities, running national skilling initiatives and we want to focus on how we can amplify our brand from a consumer to an enterprise one,” he said.
The online learning market has been witnessing substantial volatility. Kumar said they have been financially prudent. “We call this mindful growth internally,” he said.
Kumar said Simplilearn is partnering with NPCI, IIIT Bangalore and Massachusetts Institute of Technology to launch cybersecurity programmes.
Simplilearn conducts more than 3,000 live classes, with an average of 70,000 learners who together spend more than 500,000 hours each month on the platform.


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