Eruditus Secures $150 Mn In Series F Led By TPG's The Rise Fund

Eruditus Executive Education, co-founded by Chaitanya Kalipatnapu and Ashwin Damera, has successfully raised USD 150 million in a Series F funding round led by TPG’s The Rise Fund. The investment also saw participation from other prominent investors such as SoftBank Investment Advisers Vision Fund 2, Leeds Illuminate, Accel, CPP Investments, and Chan Zuckerberg Initiative.

Ashwin Damera, chief executive officer of Eruditus said, “With this investment, we are excited to continue to grow and innovate to meet market demand. For us, success is a measure of the lives we touch and together we have now impacted more than 1 million learners.” 

The new capital will be used towards enhancing global growth strategies, including the integration of artificial intelligence to enrich the learner experience and the expansion of its enterprise business, which caters to governments and corporations globally.

“Eruditus’ mission aligns with a core investing theme for The Rise Funds, which focuses on backing strong businesses that are opening pathways to high-quality education and driving greater lifetime earning potential for their students,” said Steve Ellis, managing partner of The Rise Funds.

The company said that this investment reflects the dedication of the Eruditus Executive Education & Emeritus team, strong partnerships with leading universities, and a commitment to sustainable growth in the education sector. As Eruditus looks to the future, the focus remains on leveraging technology and strategic partnerships to transform education and continue changing lives, one learner at a time.

The fresh USD 150 million will be Eruditus’ first major equity round since August 2021, when the company raised its largest-ever round of $650 million at a valuation of more than USD 3.2 billion.