BYJU’S, India’s largest education technology company today announced a new round of funding from BOND, the global technology investment firm. BOND is a global technology investment firm that supports visionary founders throughout their entire life cycle of innovation and growth. BOND’s founding partners have backed industry pioneers such as Spotify, Square, Peloton, DocuSign, Uber, and many others.
“We are happy to partner with an investor like BOND,” said Byju Raveendran, Founder & CEO. “This partnership is a testament to the role that BYJU’S is playing in helping students learn better by customizing our platform to their abilities. It also demonstrates the rising global interest in education technology as digital learning becomes increasingly accepted and embraced.”
In response to schools being shut down due to COVID-19, BYJU’S has made content on its learning app free for all students. BYJU’S has also introduced LIVE classes to further student engagement.
“This crisis has brought online learning to the forefront and has helped parents, teachers, and students alike to experience and understand the value of it,” Mr. Raveendran continued. “We have the opportunity to positively influence how teachers teach, students learn, and the school’s function. The ‘Classrooms of Tomorrow’ will have technology at the core, empowering students to cross over from passive to active learning. The result will be a combination of the best of both online and offline educational offerings.”
In the past year, BYJU’S has seen tremendous growth and now has over 57 million registered students, more than 3.5 million paid subscribers, and annual renewal rates as high as 85%. BYJU’S doubled its revenue from INR 1430 crore to INR 2800 crore in FY 19-20.
“Endorsed by millions of students, BYJU’S has emerged as a clear leader in education technology,” said Mary Meeker, General Partner at BOND. “We are excited to support a visionary like Byju and his team in their quest to continue to innovate and shape the future of education.”
BYJU’S is India’s largest ed-tech company and the creator of India’s most loved school learning app which offers highly adaptive, engaging, and effective learning programs for students in classes K-12 and competitive exams like JEE, NEET, and IAS. BYJU’S launched its flagship product, BYJU’S – The Learning App, for classes 4-12 in 2015.
Today, the app has over 57 million registered students and 3.5 million annual paid subscriptions. With an average time of 71 minutes being spent by a student on the app every day from 1700+ cities, the app is creating a whole new way of learning through visual lessons, live classes by top BYJU’S teachers, and encouraging students to become self-initiated learners.
The Disney BYJU’S Early Learn App was launched in June 2019, a special offering from BYJU’S for students in classes K-3 featuring Disney’s timeliness characters. In early 2019, BYJU’S also acquired Osmo, a Palo Alto-based maker of educational games to transform the whole offline-to-online learning experience. Delivering a world-class learning experience, programs from BYJU’S are making learning contextual and visual.
The apps have been designed to adapt to the unique learning style of every student, as per the pace, size, and style of learning. BYJU’S is paving the way for new-age, geography-agnostic learning tools that sit at the cross-section of mobile, interactive content, and personalized learning methodologies. BYJU’S is also the official sponsor of the Indian Cricket Team.