Funding round
BYJU'S Growth
Reported as "Growth Equity"
BYJU'S, which works in live online class services in Bengaluru, raised $50M in a Growth round announced on 8 Sep 2016, led by Sequoia Capital and Chan Zuckerberg Initiative. 5 firms took part, 1 of them already investors. It is BYJU'S' second venture round on record; the one before was a Growth in Mar 2016.
$50M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
BYJU'S did not disclose a valuation in this round. It came 6 months after BYJU'S' Growth. It is 3.7% of the $1.35B BYJU'S has raised in the venture rounds on record. BYJU'S raised again 6 months later: a Growth round of $30M in Mar 2017, at $600M post-money.
BYJU'S' funding rounds
BYJU'S has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Growth 22 Mar 2016 $75M
- Growth this round 8 Sep 2016, led by Sequoia Capital and Chan Zuckerberg Initiative $50M
- Other not a venture round 20 Dec 2016 $15M
- Growth 29 Mar 2017 $30M$600M post-money
- Series B 28 Mar 2019 $25M$5.40B post-money
- Series F 27 Aug 2020 $122M$10.00B post-money
- Growth 11 Mar 2022 $800M$22.00B post-money
- Growth 12 May 2023 $250M$22.00B post-money
Investors
Who put money in
Sequoia Capital and Chan Zuckerberg Initiative led the round with 3 other firms. Sequoia Capital had backed BYJU'S before.
Lead investors
- Sequoia Capital backs 589 venture-backed companies existing investor
- Chan Zuckerberg Initiative new investor
Also in the round
- Times Internet Ltd new investor
- Sofina backs 45 venture-backed companies new investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
Joined the board: Vivian Wu (Chan Zuckerberg Initiative).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Growth rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 6 Sep 2016 | $93M | not disclosed | Signet Healthcare Partners |
| Online Marketplace | 22 Sep 2016 | $55M | not disclosed | LIV Capital and Northgate |
| Druva Tech Companies | 28 Sep 2016 | $51M | not disclosed | Sequoia India |
| Payment Processing & Point of Sale | 28 Sep 2016 | $50M | not disclosed | Carrick Capital Partners |
| Medical Supply Manufacturers | 20 Sep 2016 | $34M | not disclosed | Gimv |
| Claroty Tech Companies | 13 Sep 2016 | $32M | not disclosed | Bessemer Venture Partners |
| Industrial Air Solutions | 12 Sep 2016 | $30M | not disclosed | not named |
| Financial Services | 20 Sep 2016 | $30M | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did BYJU'S raise in its Growth round?
BYJU'S raised $50M in its Growth round, announced in Sep 2016.
Who led BYJU'S' Growth round?
Sequoia Capital and Chan Zuckerberg Initiative led it, with Times Internet Ltd, Sofina and Lightspeed Venture Partners.
What was BYJU'S' valuation at the Growth round?
It was not disclosed.
Did BYJU'S raise again after this round?
Yes: a Growth round in Mar 2017 of $30M at $600M post-money.