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The EdTech Episode #13


Dear readers,

Around the world, we counted 150+ EdTech venture investment rounds of US$5M or greater in 2019, representing over US$4.8B in capital invested. The US and China continued to dominate fundraising - companies based in these two countries accounted for 8 out of the 10 largest funding rounds in our dataset. (The other two occurred in India, where Byju's continued to raise capital, and in Indonesia, where Ruangguru raised the largest EdTech round in Southeast Asian history.) 

Developed markets such as the US, UK, and Australia saw more money invested into post-secondary (higher education and corporate/lifelong learning) companies, such as KnowBe4, Secure Code Warrior, Coursera, and FutureLearn. Meanwhile, investment in emerging markets such as China and India focused on K-12 companies, such as Zhangmen, DaDa, VIPKid, and Byju's. 

So far, 2020 has seen:

  • Byju's has raised another new round of funding - at a reported US$300M, this already seems set to be one of the largest rounds of 2020.
  • Wiley and Pearson have made their latest acquisitions - Wiley acquired mthree, an IT training provider, while Pearson acquired Smart Sparrow, a provider of digital courseware.
- Peter Sahui
Market News

BrightEye Ventures has released its latest report on EdTech marketing.
Company / Institution News

edX has launched MicroBachelors programs, the first being in IT careers and computer science fundamentals. The programs are self-paced and credit-bearing, with an estimated completion time of 6 months each.

Coursera is
trialling Coursera Plus, a subscription service for short courses and microcredentials.
Fundraising

Byju's, the India-based EdTech company, has raised a US$300M funding round. Tiger Global led.

Ruangguru, an Indonesia-based tutoring marketplace, 
has raised a US$150M Series C round. General Atlantic and GGV Capital led.

Dami Online Education, a subsidiary of VIPKid that provides online group English and maths classes,
has raised a US$80M Series A round. Tencent and Sequoia Capital China led.

EdCast, a US-based corporate LMS provider, 
has raised a US$35M Series D round. Avathon Capital led.

Eduisfun, an India-based developer of K-12 maths and science software,
has raised US$28M from angel investors.

Jolt, a UK-based provider of in-person business education,
has raised a US$14.1M Series A round. Balderton Capital led.

XuetangX, a China-based MOOC platform,
has raised 100M RMB (around US$14M) in its Series B round. MOOC-CN Capital led.

Xiaoe-tech, a China-based provider of software that allows educators and institutions to monetise courses,
has raised a 100M RMB funding round. TAL Education Group led.

Outlier, a US-based provider of online, for-credit introductory HE courses,
has raised a US$11.7M Series A round. GSV Ventures led.

Springboard, a US-based online bootcamp,
has raised a US$11M post-series A round. Reach Capital led.

Testbook Solutions, an India-based provider of test prep for government exams,
has raised an approx. US$8M Series B funding round. Iron Pillar led.

Health Scholars, a US-based provider of VR medical training, has raised US$7.6M out of a targeted US$17.3M,
according to an SEC filing.
M&A


Wiley has acquired mthree, a provider of IT training and placement. Consideration of 98M GBP (US$129M) represents approximately 2.6x anticipated 2019 revenue.

ProctorU and Yardstick Assessment Strategies
have merged to form a new entity, Meazure Learning. The new company has raised US$30M in a round led by Eastside Partners.

A Cloud Guru
has acquired Linux Academy for an undisclosed amount. In conjunction with the acquisition, A Cloud Guru raised a funding round of undisclosed size.

Embibe, a subsidiary of Indian conglomerate Reliance,
has acquired a 90.5% stake in Funtoot, which develops K-12 maths and science online learning products, for approx. US$10M.

Pearson
has acquired Smart Sparrow, a provider of digital courseware, in a deal that values Smart Sparrow's assets at US$25M.
New Funds

Learn Capital is raising US$250M for its fourth fund, according to SEC filings.
Find Navitas Ventures online at navitasventures.com.
Copyright © 2020 Navitas, All rights reserved.


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