The round has also seen participation from the company's existing investor Bertelsmann India Investments.
Mumbai-based Eruditus Learning Solutions Pte Ltd, offering executive learning programmes globally, has raised $40 million in its Series-C funding round led by Sequoia Capital, a global venture capital firm. The round has also seen participation from the company's existing investor Bertelsmann India Investments.
The fresh capital will be used by Eruditus to increase its course offerings in high-demand subject areas like data science, machine learning, blockchain and cybersecurity. It will also be used to expand its language offerings to include Portuguese and Mandarin, in addition to English and Spanish.
Ashwin Damera, Co-founder and Director of Eruditus, said, "The reason we're raising this capital is growth. We’re already operating on a break-even basis and we should exit this year in the positive. The three focus areas for us are to create more courses, grow geographically and the third is offering degrees. There's a very huge opportunity to work with these colleges to bring their degree-granting programmes online."
GV Ravishankar, Managing Director, Sequoia Capital India Advisors, stated, "Upskilling and reskilling represent one of the fastest-growing segments of the global education market. Driven both by individual learners investing in their own professional development and by corporations investing in the development of their employees, the massive challenge of reskilling in response to technology evolution is throwing open a multi-billion-dollar opportunity for education entrepreneurs."