BYJU’S on Friday announced that General Atlantic has joined the latest round of funding.
Commenting on this, Byju Raveendran, Founder & CEO, BYJU’S said, “General Atlantic has been one of our strongest partners and this additional investment shows their confidence in our vision, growth and future. We are happy to see an ever-increasing acceptance for our learning programs in small towns across the country. Today, over 65% of our students are from outside the top 10 cities. This is a validation of how technology can make high-quality learning content more accessible to students, irrespective of their geographies. In fact, technology as an enabler has a lot of potential to further innovate the way in which learning can be made personalised and impactful.”
BYJU’S has learning programs for students in classes 1 to 12. Currently, the company is working on launching programs in vernacular languages to help students across all parts of the country learn better. In addition to this, the company will also be launching the ‘BYJU'S Online Tutoring Program’ in the coming months.
BYJU’S has 42 million registered users and 3 million paid subscribers. Students are spending 71 minutes on the app daily and the annual renewal rates are 85%. It also tripled its revenue from Rs 520 crore to Rs 1480 crore in FY 18-19 and turned profitable on a full-year basis. The company is on track to double its revenues to Rs 3000 crore in the current financial year.
Over the years, BYJU’S has designed and created learning programs that have played a crucial role in changing the way children learn today. BYJU’S says it is continuously working towards creating personalised learning programs that will transform the way students learn globally.