Eruditus Secures $150 Million Series F Funding Led by TPG’s The Rise Fund

TPG Rise, being one of the leading impact investing platforms in the private markets globally, is dedicated to delivering tangible and favorable social results.

In India, specifically in Maharashtra, Mumbai – Business Wire India

• Involving current backers Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments, and the Chan Zuckerberg Initiative
• Eruditus, the umbrella organization overseeing Emeritus, successfully concludes a funding round to further enhance their stake in AI products and expedite the expansion of their corporate ventures following a profitable period.

Eruditus, a prominent figure in expanding access to top-notch education at reasonable rates for individuals, companies, and governments worldwide, disclosed today a successful completion of a $150 million Series F funding round. The funding was spearheaded by TPG’s The Rise Fund, a multi-sector initiative under TPG’s global impact investing platform, and saw participation from established investors such as Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments, and the Chan Zuckerberg Initiative. This funding milestone underscores the company’s outstanding progress and influence in the realm of innovative, high-quality career-focused education on a global scale. This achievement follows a stellar year for Eruditus, crowned with the prestigious title of #1 Global EdTech by Time magazine and attaining profitability over the course of the entire year.

Eruditus has secured additional funding to support its worldwide expansion efforts. The new capital will primarily go towards enhancing the learner experience through AI technology, broadening its reach in serving governmental and corporate clients, and reinforcing its presence in the Indian and APAC markets. With ambitions to expand further, the company is also considering potential acquisitions and investments, a strategy that has previously driven remarkable revenue growth and market expansion. Avendus Capital played a pivotal role as the exclusive financial advisor for this fundraising initiative.

Eruditus is dedicated to democratizing high-quality education globally, a mission that holds significant importance in today’s fast-evolving business landscape, especially with the rapid advancements brought forth by the AI revolution. To adapt to these changes, the company is intensifying its focus on technological innovations, particularly leveraging generative AI to enhance the learning journey and offer more advanced educational solutions. Through the introduction of AI-driven tutors and collaborative programs with educational institutions, Eruditus is at the forefront of revolutionizing learning experiences. The surge in demand for the company’s enterprise solutions, fueled by the necessity for upskilling in the era of AI, is evidenced by a remarkable 45% revenue growth in the previous year.

Steve Ellis, a Managing Partner at The Rise Funds, expressed excitement about Eruditus’ role in broadening the access to new educational opportunities and equipping professionals with the necessary skills to progress in today’s fast-evolving workplace. The mission of Eruditus resonates with The Rise Funds’ fundamental investment focus on supporting robust enterprises that are paving the way for superior education quality and boosting long-term income prospects for their learners. The collaboration between The Rise Fund and Eruditus aims to bolster the platform and expand the business on a global scale. TPG’s Simit Batra will also take a seat on Eruditus’ board of directors following The Rise Fund’s investment.

Collaborating with over 80 prestigious universities globally, Eruditus offers a wide array of 700+ professional learning programs to a diverse audience of 1 million learners across 80+ countries. Their commitment to personalized education is reflected in industry-centric certification courses, tailored mentorship, and career guidance, leading to an impressive 85% course completion rate among their professional learners.

Ashwin Damera, CEO of Eruditus and Emeritus, expressed enthusiasm about the recent investment, highlighting the opportunity for growth and innovation to cater to market needs. He emphasized the companies’ commitment to reshaping education by offering programs from prestigious universities worldwide to a global audience. Damera underscored the transformative power of education for individuals, businesses, and society, acknowledging the investors’ crucial role in facilitating the acceleration of their expansion efforts.

Eruditus – A Brief Overview

Eruditus, the company overseeing Emeritus, is dedicated to imparting future-focused skills through accessible and cost-effective high-quality education for people, businesses, and governments worldwide. By partnering with over 80 prestigious universities in the United States, Europe, Latin America, Southeast Asia, India, and China, Eruditus offers a wide array of short courses, degree programs, professional certificates, and senior executive programs. These educational opportunities empower individuals to acquire new skills, leading to personal and professional transformations. With a distinctive approach combining cutting-edge technology, innovative curriculum, and personalized guidance from experienced faculty, mentors, and coaches, Eruditus has positively impacted over 1 million learners from 80+ countries. The Eruditus Group, boasting a workforce of 1,750 employees globally, maintains offices in key cities such as Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai. Noteworthy backers of the company include TPG, the Chan Zuckerberg Initiative, Leeds Illuminate, Prosus Ventures, GSV Ventures, Peak XV, Bertelsmann, CPP Investments, Accel, and SoftBank Vision Fund 2. For further details

About The Rise Funds
TPG Rise’s core pillar, The Rise Funds, is an integral part of TPG’s worldwide impact investing platform. Established in 2016, The Rise Funds support impact entrepreneurs and high-potential, growth-stage companies committed to advancing the Sustainable Development Goals set by the United Nations. With a broad reach across different sectors and regions, The Rise Funds provide expertise and resources to drive positive change, particularly in areas such as climate action, education, agriculture, financial inclusion, healthcare, and impact-driven services.

The TPG Rise platform, consisting of The Rise Funds, TPG Rise Climate, and the Evercare Health Fund, manages assets totaling around $19 billion. It stands out as a leading impact investing platform in the private markets globally, dedicated to delivering tangible social and environmental benefits while ensuring strong financial returns.