Eruditus, a leader in making high-quality education accessible and affordable to individuals, companies, and governments, announced today that it has raised a $150 million Series F fundraise led by TPG’s The Rise Fund with participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative.
This funding supports Eruditus’ global growth. It will invest in AI technology to further enrich the learner experience, expand the company’s rapidly growing business serving governments and enterprises, and deepen its investments in the India and APAC regions. As the company continues to grow and scale, it eyes future acquisitions and investments, which have historically contributed to impressive topline growth and expansion in strategic markets. Avendus Capital was the exclusive financial advisor for the fundraiser.
Eruditus’ goal to make high-quality education accessible and affordable worldwide has never been more critical. Business today is changing faster than ever—and the AI revolution means it’s set to change even faster. The company is accelerating its investments in technology to harness the power of generative AI to enrich the learner experience further and provide enhanced learning solutions. Eruditus has already launched proprietary AI-powered tutors for students and programs with partner schools. The need for training in the age of AI is driving unprecedented demand for the company’s enterprise solutions, which grew revenue by 45% last year.
Today, over 80 top-tier university partners worldwide work with Eruditus to create over 700 professional learning programs delivered to more than 1 million individuals in 80+ countries. And the company’s certification programs, professional certificates, and workforce leadership development initiatives are defined by personal engagement between faculty and students, course customization, mentoring and coaching, and career counseling. The results are evident in course completion rates of 85% for their professional learners.
TPG’s Simit Batra will join Eruditus’ board of directors as part of The Rise Fund’s investment.
KEY QUOTES:
“Eruditus is expanding access to new education opportunities and giving professionals at all stages of their careers the skills they need to advance and succeed in today’s rapidly changing workplace. Eruditus’ mission aligns with a core investing theme for The Rise Funds, which focuses on backing strong businesses that are opening pathways to high quality education and driving greater lifetime earning potential for their students. We look forward to working with Eruditus to further enhance the platform and scale the business globally.”
-Steve Ellis, a Managing Partner of The Rise Funds
“With this investment, we’re excited to continue to grow and innovate to meet market demand. In a rapidly evolving business environment, we have reimagined education by bringing programs from the world’s leading universities to learners around the globe. Education is the key to transformation, for individuals, companies, and society and we’re appreciative of the support of our investors who enable us to accelerate our growth.”
-Ashwin Damera, CEO, Eruditus and Emeritus
