Scaler Academy, an edtech platform that offers immersive learning programs, has achieved a valuation of $710M in its recent $55M funding round. This is the largest ever private funding round for an edtech company in India, and the highest ever reported valuation of a bootstrapped firm in the country.
Founded by IIM graduates Apratim Gupta and Vineet Chaturvedi, Scaler Academy operates in the skill development space, with training courses based on applied knowledge and career readiness.
The round was led by global investment giant General Atlantic LLC, with participation from investors such as Queen’s Road Capital, Endiya Partners, STIC Ventures and others. This fundraising will now offer world-class digital learning experiences to more students worldwide. It will also help accelerate product development and scale up operations to bring more innovative products to market faster.
Overview of Scaler Academy
Scaler Academy is a leading edtech platform that offers industry-relevant courses in web and mobile programming, data engineering and analytics, product management, and digital marketing. Founded in 2017 at the behest of LinkedIn India’s former Managing Director (MD), Mr. Ajay Gupta and $7 Billion marquee venture fund Matrix Partners India, the platform combines real-world insight with personalized mentorship to help aspiring tech professionals level up their craft and get headhunted by reputed companies.
Since inception, Scaler Academy has become one of the fastest-growing edtech startups with operations running across nine countries including USA, Europe, Australia and Middle East. It has trained over 1 million students from 76 countries through its suite of immersive learning experiences while helping them acquire highly valued skills in software engineering, product management, data Science & analytics, among others.
Scaler Academy aims to revolutionize how industry professionals interact with technology by offering immersive learning experiences tailored to specific job roles through personalized mentorship. The platform’s personalised curricula draw upon experienced mentors and subject matter experts to help enhance user knowledge levels while providing hands on guidance when it comes to solving real world coding challenges while also providing access to several hours of content repository besides personalised inputs from experts who can mentor users as they progress through their respective journeys towards building successful careers in tech programming & other related disciplines.
Edtech platform Scaler Academy valued at $710M in a $55M funding round
Founded in 2018, Scaler Academy is a comprehensive edtech platform offering technology-based job training, including full-stack software development programs. The curriculum also includes interview preparation and part-time learning opportunities. By late July 2020, the company had certified over 5,000 students in 8 countries.
The company has raised an impressive $55 million Series B funding round led by Tiger Global Management, with other investors including Vy Capital, Featherstone Partners and Accel India participating. The Bangaluru-based edtech platform has been valued at $710 million with this fundraising round.
Scaler Academy has seen immense success in its short history due to its focus on developing industry relevant skills for students and corporate professionals looking for comprehensive education solutions. The edtech platform focuses on creating meaningful job opportunities tailored to a student’s current skill set and desired career goals. The curriculum is also closely aligned with modern technology industry standards which helps ensure their graduates have the skills needed to succeed in their chosen field of work.
Impact of Edtech Platforms
Edtech platforms have drastically changed the way education is being imparted today. With the onset of digital infrastructure and access to the internet, these technology-based educational solutions have transformed classrooms across the globe. Such platforms enable students and educators to receive a comprehensive, convenient and accessible learning environment. Leveraging technology allows these edtech platforms to cater to a wider, diverse audience than traditional offline educational models.
The recent $55M funding round for Scaler Academy valued at $710M highlights the potential of edtech platforms in creating an impact beyond their core services. With such improved scalability and reach, newer markets can explore newer avenues in learning. However, this also involves serious considerations on data security, knowledge verification measures and upgradation of existing infrastructure for seamless operations across geographies.
The impact these edtech solutions are having on traditional learning norms warrants us to evaluate them from an economic perspective as well as an ethical standpoint. In addition, Edtech has extended its roots across different sectors by introducing immersive knowledge transfer methods that were not possible with physical infrastructure alone – leaving one more element added to capacity building across geographies.
Benefits of Scaler Academy
Scaler Academy is an edtech platform that provides comprehensive learning across data science, programming, product management, and more. It provides personalized guidance to students and offers access to top-level instruction by providing a curated learning path and personalized mentor network.
The edtech platform has seen significant growth over the past year as it has secured a $55 million investment led by General Catalyst at a reported valuation of $710 million. This round of funding highlights Scaler Academy’s ability to provide returns on investment (ROI) with quality training that caters to skill improvement for its learners.
Benefits of using Scaler Academy include:
- High-quality courses developed by industry experts from leading organizations like Google, Amazon, Microsoft, etc., enabling technical professionals to upskill quickly.
- Professional customized mentorship facilities for learners to support their progress in the course curriculum.
- A stringent assessment system that enables active feedback loops between students and tutors as well as peer learning opportunities through live projects/exercises built into the course structure.
- A wide range of virtualized labs and experiments along with real world applications that provide hands on experience through problem solving tasks and development challenges relevant in the job market today.
- Live instructor sessions throughout courses ensuring students stay updated on the latest trends in their respective fields & ensures they can finish their programs in the best possible way while acquiring a certificate upon completion.
Overview of the Funding Round
Scaler Academy, a leading edtech platform that focuses on providing cutting-edge learning experiences and programmatic skills development, announced that it has secured $55 million in a funding round led by SoftBank Investment Advisers. This investment round values the company at $710 million post money. This marks the first external fund raise for Scaler Academy. The funding will be used to expand its network of sub-brands and other global product offerings.
Strategic investors participating in the funding include Xavier Niel’s Kima Ventures, existing investors 3One4 Capital, and new investor Unilever Ventures India LLP (UVIL). Other investors include Quona Capital, Think Investments, Dell Foundation, Samyakth Fund & Axilor.
The enterprise values Scaler at “unicorn” status with current investor interest based evaluation of its strong technology and fast growing business model. In under three years since its inception in 2017, over 1M professionals have benefited from Scaler Academy programs — with more than 20% of Fortune 500 organisations having leveraged some or the other form of scaler Academy offerings via their workforce or through campus programs.
Impact of the Funding Round
The $55M funding round has immensely impacted Scaler Academy, raising the edtech platform’s estimated value to $710M. This sets Scaler at the top of the education tech landscape in India, leading the market and setting new standards for digital education. The investment round was led by Tiger Global, and included Sequoia India and Chiratae Ventures among other investors.
The funding from high profile technology-focused venture capital firms like Tiger Global will enable Scaler Academy to accelerate its organic growth initiatives and help expand its program offerings beyond tech-focused courses. It also enables Scaler Academy to keep enhancing its course content by paying external facilitators and accelerating its efforts to roll out courses that are in demand from user communities beyond technology.
With the additional resources secured through this latest funding round, Scaler Academy can continue striving towards making top quality education accessible to more individuals than ever before.
Conclusion
This is great news for edtech companies worldwide, as it demonstrates the potential investors have recognized in the potential of education technology. In addition, Scaler Academy’s successful funding round is a clear sign that investing in this sector can be profitable and that there is growing interest in edtech platforms and companies.
As the investment round concluded, Scaler Academy announced that it will use the funds to invest further in its technology platform, improve educational products and services for students, expand globally, and attract new talent to build out its team. These initiatives show the company’s dedication to revolutionizing online learning.
The company’s success is indicative of a larger shift taking place in higher education: a commitment from investors to fund digital advancements and positively impact education across all levels. Going forward, other edtech companies will likely see increased investor attention as more venture capitalists recognize their earning potential and plan for long-term success.