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The Silicon Review Asia

Blackstone to invest $250 million in Leading Edtech Startup Simplilearn

Blackstone to invest $250 million in Leading Edtech Startup Simplilearn

The prolific edtech startup Simplilearn has attracted the eye of Blackstone. The latter is looking to pick up a majority stake in the popular edtech startup for a cost of $250 million.

Simplilearn is leading educational website that helps people acquire skills in upcoming topics of AI, ML, cloud computing, data science, amongst others. So far, the company has helped over 2 million professionals and 2,000 companies.

The startup has partnered with some prestigious universities including IIT Kanpur, Caltech, and Purdue University. The company will use the funding from Blackstone to develop more partnerships with businesses and universities as it continues to expand.

“The pandemic has only accelerated the need for digital skills and the industry has demonstrated absolute readiness for upskilling online. Hence, this is the most opportune time to take the next big leap in our journey to build the world’s largest digital skilling company. We are excited to partner with Blackstone, a globally recognized investor with a strong track record in the edtech sector,” said Krishna Kumar, Founder and CEO of Simplilearn.

The private equity investment from Blackstone is its very first in Asia in a consumer technology company. The company expressed its excitement at forging a partnership with “Simplilearn’s top-notch management” and is hoping to create the world’s next big digital learning company.

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