Simplilearn raises $45mn in new funding round led by GSV Ventures
Simplilearn, an online platform for skilling and training, has raised $45 million from a consortium led by GSV Ventures, a multi-stage venture capital firm. Clal Insurance and DisruptAD, a venture platform, also participated in the funding round.
Simplilearn is getting the financing at a time when the technology funding ecosystem and education technology (edtech) market are witnessing volatility. The company has in the past year added more than 120,000 paid B2C learners, and over 100,000 enterprise learners. That is in addition to more than 2 million free learners joining Simplilearn’s platform every year.
Simplilearn said after getting Blackstone’s investment in August 2021 it has deployed funds for exponential growth over the past year.
“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. The Blackstone investment last year came at an ideal time to boost our growth globally, and further strengthen our customer-centric approach,” said Krishna Kumar, founder and chief executive officer of Simplilearn.
Deborah H. Quazzo, managing partner at 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. 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 is the exclusive financial advisor to Simplilearn and its shareholders on the transaction.