Funding round
Emeritus Series D
Emeritus, which works in executive education program services in Singapore, raised $113M in a Series D round announced on 31 Aug 2020, led by Leeds Illuminate and Prosus Ventures, at a $800M post-money valuation. 5 firms took part, 1 of them already investors. It is Emeritus' second venture round on record; the one before was a Series B in Apr 2017.
$113M
Amount raised
$800M
Post-money valuation
5
Investors
2 leads
14%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Emeritus at $800M after the new money. The $113M bought investors about 14% of the company. It came 40 months after Emeritus' Series B. It is 15% of the $771M Emeritus has raised in the venture rounds on record. Emeritus raised again 12 months later: a Series E round of $650M in Aug 2021, at $3.20B post-money.
Emeritus' funding rounds
Emeritus has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Leeds Illuminate and Prosus Ventures led the round with 3 other firms. Sequoia India had backed Emeritus before.
Lead investors
- backs 8 venture-backed companies new investor
- Prosus Ventures new investor
Also in the round
- Chan Zuckerberg Initiative new investor
- Sequoia India existing investor
- Ved Capital new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations, working capital and sales and marketing.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
- Sales and marketing
Comparable rounds
How it compares
7 Series D rounds in Professional & Management Training within a year either side disclosed an amount; the median was $125M, and this round was close to the median. The closest in time, other companies' Series D rounds in Professional & Management Training:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Professional & Management Training | 10 Aug 2020 | $66M | not disclosed | OMERS Growth Equity |
| BetterUp Professional & Management Training | 1 Mar 2021 | $125M | $1.73B | ICONIQ Growth |
| Professional & Management Training | 13 Apr 2021 | $153M | $1.40B | Sapphire Ventures and Riverwood Capital |
| Professional & Management Training | 21 Apr 2021 | $45M | not disclosed | OMERS Growth Equity |
| Guild Professional & Management Training | 13 Nov 2019 | $157M | $1.00B | General Catalyst |
| Professional & Management Training | 19 Jul 2021 | $200M | $1.00B | SoftBank Vision Fund and Airtree |
| Professional & Management Training | 25 Aug 2021 | $6.4M | not disclosed | Bonds Investment Group |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Emeritus raise in its Series D round?
Emeritus raised $113M in its Series D round, announced in Aug 2020.
Who led Emeritus' Series D round?
Leeds Illuminate and Prosus Ventures led it, with Chan Zuckerberg Initiative, Sequoia India and Ved Capital.
What was Emeritus' valuation at the Series D round?
$800M post-money.
How does it compare with other Series D rounds in Professional & Management Training?
7 Series D rounds in Professional & Management Training within a year either side disclosed an amount; the median was $125M, and this round was close to the median.
Did Emeritus raise again after this round?
Yes: a Series E round in Aug 2021 of $650M at $3.20B post-money.