Eruditus Raises $150 Million Led by TPG Rise, Company to Flip Domicile to India from Singapore
Eruditus, a leading global online higher education platform, announced that it has raised $150 million in a Series E funding round led by TPG Rise, the growth equity platform of global alternative asset firm TPG. Other investors participating in the round include existing investors Sequoia Capital India, Accel, and Lightspeed Venture Partners.
The fresh capital will be used to expand Eruditus’ product offerings, invest in technology and data analytics, and grow its global presence. Eruditus also plans to invest in its hybrid learning model, which combines online learning with offline experiences.
The investment comes at a time when the online education market is booming. According to a recent report by Research and Markets, the global online education market is expected to reach $350 billion by 2025. Eruditus is well-positioned to capitalize on this growth, with its strong brand recognition, proven track record, and robust technology platform.
Eruditus is headquartered in Singapore, but the company announced that it will be flipping its domicile to India. This move will allow Eruditus to leverage the growing technology ecosystem in India and tap into a wider talent pool.
“We are thrilled to welcome TPG Rise as a new investor in Eruditus,” said Ashwin Damera, co-founder and CEO of Eruditus. “This investment will enable us to accelerate our growth and continue to innovate in the online higher education space. India is a strategic market for us, and we are confident that by relocating our headquarters here, we will be able to further accelerate our mission to democratize access to quality education.”
TPG Rise is a leading growth equity platform with a strong track record of investing in education technology companies. “Eruditus has established itself as a leader in the online higher education market,” said Anu Hariharan, Partner at TPG Rise. “We are excited to partner with the team as they continue to scale their business and expand their global reach.”
The investment in Eruditus is the latest in a series of investments in the online education sector. In recent years, a number of education technology companies have attracted significant funding, as investors recognize the potential of the online learning market.
The growth of the online education market is driven by a number of factors, including the increasing demand for affordable and flexible learning options, the rising adoption of technology in education, and the growing awareness of the importance of lifelong learning. Eruditus is well-positioned to capitalize on these trends and continue its growth trajectory.
Eruditus offers a wide range of online programs from leading universities and colleges around the world. The company’s programs are designed to meet the needs of working professionals, students, and individuals seeking to upskill or reskill. Eruditus has a proven track record of delivering high-quality educational experiences to its students, and its graduates are in high demand in the job market.
With the investment from TPG Rise, Eruditus is well-equipped to further strengthen its position as a global leader in online higher education. The company is committed to making quality education accessible to all, and its growth will help to democratize education and empower individuals to reach their full potential.
