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Sunday, June 16, 2024

Simplilearn raises $45 mn funding round led by GSV Ventures


Upskilling platform, Simplilearn has raised $45 million in a funding round led by GSV Ventures, a multi-stage venture capital firm.

In addition to GSV Ventures, Clal Insurance and DisruptAD, ADQ’s venture platform, are also participating in this round. The current investment will help boost the company’s growth across the globe. The edtech company said it has added more than 1,20,000 paid B2C learners and 1,00,000+ enterprise learners on its platform. This is in addition to the 2 million+ free learners that it adds to its SkillUp platform every year. 

Simplilearn offers digital skilling programs for professionals, enabling learners to upskill and get certified in fast-growing digital domains. Simplilearn creates these programs in collaboration with Caltech CTME, MIT Schwarzman College of Computing, UMass Amherst and the Isenberg School of Management, Purdue University, Wharton Online, IIT Roorkee, and IIT Kanpur, and companies such as IBM, Microsoft, Amazon, Meta, and KPMG.

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Post the Blackstone investment in August 2021, Simplilearn has strategically deployed funds enabling exponential yet mindful growth over the past year. Speaking on this round of funding, Krishna Kumar, Founder and CEO, Simplilearn, said, “We continue to witness the accelerated need for digitally skilled workforce across industries and Simplilearn continues to be focused on bridging the digital skill gap. Continuing on our path of mindful growth, we are grateful for how far the company has come today. The Blackstone investment last year came at an ideal time to boost our growth globally, and further strengthen our customer-centric approach. Today, we are excited to partner with GSV Ventures, a globally recognized investor with a strong track record in the education sector, along with a strong set of co-investors in Clal Insurance and DisruptAD. This funding came at a time when the industry is going through turmoil and stands as a testimony to our steady, profitable growth.”

Deborah H. Quazzo, Managing Partner, GSV Ventures said, “With immense experience investing and working with education firms around the world, it is certain that the demand for knowledge-gain and upskilling is omnipresent. Like many other sectors, technology is disrupting education, and edtech has been a key focus area for us. Simplilearn is a unique player in the digital skilling space with premium content and partnerships with various marquee universities and enterprises. Given the company’s promising growth trajectory over the past years, we are excited to partner with Blackstone, Krishna Kumar and Simplilearn to accelerate growth and contribute to building one of the world’s leading digital upskilling companies. We look forward to a promising future of continued customer-centricity, enabling professionals across the globe to become highly skilled in the digital economy.” 

Avendus continues to be an exclusive financial advisor to Simplilearn and its shareholders on the transaction.

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