Simplilearn, the world’s leading online Bootcamp for digital skilling training, announced its fresh round of fundraising from a consortium led by GSV Ventures, a multi-stage venture capital firm.
In addition to GSV Ventures, Clal Insurance, and DisruptAD, ADQ’s venture platform, are also participating in this round. The current investment brings in USD 45 mm into the company, further boosting its growth across the globe.
This round of funding comes at a time when the technology funding ecosystem and the edtech market, in general, are witnessing volatility.
The edtech major has seen significant growth in the past year and has added more than 1,20,000 paid B2C learners, and 1,00,000+ enterprise learners on its platform.
This is in addition to the 2 million+ free learners that it adds to its SkillUp platform every year.
As a homegrown, global edtech company, Simplilearn continues to play an instrumental role in bridging the persistent digital skills gap across the globe.
It offers digital skilling programs for professionals, enabling learners to upskill and get certified in fast-growing digital domains.
Simplilearn creates these programs in collaboration with renowned educational institutions such as Caltech CTME, MIT Schwarzman College of Computing, UMass Amherst and the Isenberg School of Management, Purdue University, Wharton Online, IIT Roorkee, and IIT Kanpur, and companies such as IBM, Microsoft, Amazon, Meta, and KPMG.
Post the Blackstone investment in August 2021, Simplilearn has strategically deployed funds enabling exponential yet mindful growth over the past year.
Krishna Kumar, Founder & CEO, of Simplilearn, Said :
Deborah H. Quazzo, Managing Partner, GSV Ventures said :
Avendus continues to be an exclusive financial advisor to Simplilearn and its shareholders on the transaction.
Founded in 2010 and based in San Francisco, California, and Bangalore, India, Simplilearn, a Blackstone company is the world’s #1 online Bootcamp for digital economy skills training.
Simplilearn offers access to world-class work-ready training to individuals and businesses around the world. The Bootcamps are designed and delivered with world-renowned universities, top corporations, and leading industry bodies via live online classes featuring top industry practitioners, sought-after trainers, and global leaders.
From college students and early career professionals to managers, executives, small businesses, and big corporations, Simplilearn’s role-based, skill-focused, industry-recognized, and globally relevant training programs are ideal upskilling solutions for diverse career or/and business goals.
About GSV Ventures
GSV Ventures is a multi-stage venture capital firm focused on the $7+ trillion global education and workforce skills sector.
The fund manages and is currently investing out of GSV Ventures Fund III, backing innovative entrepreneurs across the “Pre-K to Gray” Arc of Learning and Skills. GSV has made over $600 million in investments; portfolio holdings include Class Technologies, ClassDojo, Coursera, Coursehero, Degreed, Guild, Lead School, PhysicsWallah, Photomath, and Valenture Institute.
About Clal Insurance
Clal Insurance is one of the leading insurance and long term savings companies in Israel.
Shares of Clal Insurance Business Holdings are held by the public, with no controlling shareholder, and are traded on the Tel Aviv Stock Exchange.
Clal Insurance is rated ilAA+ by Standard & Poor’s Maalot and Aa1.il by Midroog.
As of the end of 2021, Clal Insurance held 15% market share in the insurance market in terms of gross premiums earned and managed NIS 286 billion worth of assets.
The company offers a wide range of services and products to private and corporate customers, such as non-life insurance, health insurance, travel insurance, study funds, provident funds, pension funds, etc.
Clal Insurance employs approximately 4,300 people and markets its products through 2,000 insurance agents, all of whom provide quality service and professional support to their customers.
Also Clal devotes considerable effort to improving the service to its agents and customers, while leading a digital revolution enabling immediate service – anywhere and anytime.
Clal Insurance consists of three insurance divisions: Non-Life Insurance, Long-Term Savings and Health Insurance.
DisruptAD is ADQ’s venture platform.
The platform’s activities include a multi-stage direct investment business as well as a fund-of-funds business.
Disrupt AD also seeks to enable innovation through several dedicated funds and programs that range from business incubation to growth accelerators.