Eruditus In Talks To Raise $150 Mn At $2.3 Bn Valuation

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SUMMARY

Eruditus is reportedly in advanced talks to raise $150 Mn in a fresh funding round led by Texas-based private equity firm TPG at a likely valuation of $2.3 Bn

The potential new valuation would be 28% lower than its previous valuation of $3.2 Bn in August 2021, when the company that offers upskilling courses to professionals joined the unicorn club after raising $650 Mn from a clutch of investors

However, this valuation hinges on Eruditus meeting certain performance targets, failing which the edtech juggernaut will see its market capitalization shrink to $1.8 Bn

Amid plans of reverse flipping to India ahead of its potential IPO, edtech unicorn Eruditus is reportedly in advanced talks to raise $150 Mn in a fresh funding round led by Texas-based private equity firm TPG at a likely valuation of $2.3 Bn.

The potential new valuation would be 28% lower than its previous valuation of $3.2 Bn in August 2021, when the company that offers upskilling courses to professionals joined the unicorn club after raising $650 Mn from a clutch of investors, including Accel and SoftBank Vision Fund II.

However, this valuation hinges on Eruditus meeting certain performance targets, failing which the edtech juggernaut will see its market capitalization shrink to $1.8 Bn, TechCrunch reported, citing sources.

(The story will be updated soon)





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Eruditus In Talks To Raise $150 Mn At $2.3 Bn Valuation


SUMMARY

Eruditus is reportedly in advanced talks to raise $150 Mn in a fresh funding round led by Texas-based private equity firm TPG at a likely valuation of $2.3 Bn

The potential new valuation would be 28% lower than its previous valuation of $3.2 Bn in August 2021, when the company that offers upskilling courses to professionals joined the unicorn club after raising $650 Mn from a clutch of investors

However, this valuation hinges on Eruditus meeting certain performance targets, failing which the edtech juggernaut will see its market capitalization shrink to $1.8 Bn

Amid plans of reverse flipping to India ahead of its potential IPO, edtech unicorn Eruditus is reportedly in advanced talks to raise $150 Mn in a fresh funding round led by Texas-based private equity firm TPG at a likely valuation of $2.3 Bn.

The potential new valuation would be 28% lower than its previous valuation of $3.2 Bn in August 2021, when the company that offers upskilling courses to professionals joined the unicorn club after raising $650 Mn from a clutch of investors, including Accel and SoftBank Vision Fund II.

However, this valuation hinges on Eruditus meeting certain performance targets, failing which the edtech juggernaut will see its market capitalization shrink to $1.8 Bn, TechCrunch reported, citing sources.

(The story will be updated soon)





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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