Edtech Scaler Academy raises $55 mn in Series B round led by Lightrock India; valuation at $710 mn

Edtech Scaler Academy raises $55 mn in Series B round led by Lightrock India; valuation at $710 mn

Scaler (by InterviewBit), tech upskilling startup, today announced the successful completion of Series B funding of $55 million led by new investor Lightrock India along with two existing investors, Sequoia Capital India and Tiger Global.
With this fresh round of funding, the total capital raised by Scaler Academy since January 2020 stands at $76.5 million with a valuation of $710 million.
It will also allow Scaler to aggressively pursue its international expansion plans, launch new product offerings/business verticals, make strategic acquisitions, invest in best-in-class talent, and grow its customer base in India and globally, it said in a statement.
Abhimanyu Saxena, Co-Founder, Scaler & InterviewBit, said. “We were humbled by the strong interest shown by the global investing community who want to be part of Scaler’s future and play a significant role in shaping India’s technology skill space.
We decided to go with Lightrock India and our existing investors (Sequoia Capital India & Tiger Global), who share our vision of what we are trying to do at Scaler.”
Divya Venkatavaraghavan, Principal Investor, Lightrock India, said, “The team at Scaler Academy (& InterviewBit) are transforming higher education in India by democratising the privilege of working in technology for millions of Indians. They are building a learning community that is accountable for outcomes and designed for the future of work.”
Shailendra J. Singh, Managing Director, Sequoia Capital (India) Singapore, said, “To us, the most distinctive part of Anshuman and Abhimanyu’s strategy is that they are super focused on extremely high-quality computer science education, delivered with their own unique approach that makes their programs practical and useful in the work environment. This is resulting in outstanding student NPS and exceptional job placements for Scaler students.”
John Curtius, Partner at Tiger Global, said, “As an experienced investor in India’s startup ecosystem, we are particularly bullish about the country’s edtech companies.”

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