has raised $45 million of funding from a consortium led by , a multi-stage venture capital firm. The round also included the participation of GSV Ventures, Clal Insurance and DisruptAD, ADQ’s risk platform.
The company said that the funding will be infused to further fuel its growth around the world.
The startup has seen significant growth in the past year and has added more than 1,20,000 paid B2C students and more than 1,00,000 business students to its platform. It also has over two million free learners that it adds to its SkillUp platform every year.
Deborah H Quazzo, Managing Partner of GSV Ventures, said: “With immense experience investing in and working with educational companies around the world, it is certain that the demand for knowledge acquisition and skills enhancement is omnipresent. Like many other sectors, technology is revolutionizing education, and edtech has been a key focus area for us. Simplilearn is a unique player in the digital skills space with premium content and partnerships with several renowned universities and companies.
“Given the company’s promising growth trajectory in recent years, we are excited to partner with Blackstone, Krishna Kumar and Simplilearn to accelerate growth and help build one of the world’s leading digital training companies. We look forward to a bright future from continued customer focus, enabling professionals around the world to become highly skilled in the digital economy,” he added.
Founded in 2010, San Francisco and Bangalore-based Simplilearn offers digital training programs for professionals, enabling students to sharpen their skills and become certified in fast-growing digital domains.
It creates these programs in collaboration with renowned educational institutions such as Caltech CTME, IIT Roorkee, MIT Schwarzman College of Computing, Purdue University, UMass Amherst and the Isenberg School of Management, Wharton Online, and IIT Kanpur, and companies such as IBM, Microsoft, Amazon, Meta and KPMG.
“We continue to witness the accelerating need for a digitally skilled workforce across all industries and Simplilearn continues to focus on closing the digital skills gap. Continuing our path of conscious growth, we are grateful for how far the company has come today. Blackstone’s investment last year came at an ideal time to fuel 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 a crisis and is a testament to our consistent and profitable growth,” said Krishna Kumar, founder and CEO of Simplilearn, speaking about this round of funding,
He added: “We believe that GSV Ventures, Clal Insurance and DisruptAD will bring value to our company given their experience, scale and global network, further enhancing our efforts to grow Simplilearn and maintain our leadership globally. We also thank our current investor, Blackstone, for their strong support and confidence in our journey to become a market leader.”