BYJU’s Learning App, the largest ed-tech companyin India, is poised to raise $50 mn, close on the heels of raising $75 mn in March from Sequoia Capital & Sofina. The freshly raised funds will be deployed to fuel international expansion and inorganic growth through global acquisitions. The markets where the company has presence already are India and the Middle East, and will enter United States, UK and other Commonwealth countries over the next few months.
BYJU’s Learning App is already profitable in India with MOM growth of 15%. The revenues for June 2016 stood at Rs 30 crore. The increasingly popular mobile app, that has crossed 5 million downloads, is reinventing pedagogy in the age of mobile devices. By providing high-quality original content that deploys movie-making tools and graphics, the app aims to make learning contextual and visual. The app enjoys unprecedented popularity among K12 students. Currently, there are over 200,000 paid subscribers, with 30,000 added just in the last one month.
However, what is more significant is a high user engagement, with an average time of 40 minutes spent by a student on the app every day. BYJU’s learning app is paving the way for new-age, geography-agnostic learning tools that sit at the cross section of mobile, interactive content and adaptive learning methodologies.
Byju, Founder and CEO, BYJU’s Learning App said, “We are seeing strong inbound interest from multiple investors over the last few months, thanks to our explosive growth. We are keen to bring in partners who will catalyze the next stage for us. On the other hand, we are humbled by the rising popularity and high engagement for our product with 90% annual renewal rates from the students. We are constantly innovating the way in which we make learning accessible, effective, engaging and personalized.”
Founded by Byju Raveendran, BYJU’s is India’s largest Ed-tech company that sits at the intersection of content, media and technology to offer highly adaptive, engaging and effective programs for K-12 and competitive exams like CAT, IAS, GRE GMAT. The learning app was launched in 2015, enabling them to scale beyond the geographical barriers that classroom teaching presents and reinvent how students learn in India.
BYJU’s learning app makes use of original content, graphics and other video tools to explain concepts and theories that makes learning contextual and visual, not just theoretical. It leverages technology and data science to make learning personalized to the extent that students will know what to learn, when to learn, how to learn, how much to learn, and how fast to learn. It also helps suggest a learning footprint for the student and addresses learning gaps, if any. With the use of technology and data science, it adapts to the pace of learning, size of learning and style of learning.
