ETtech Exclusive: Eruditus raises $650 million as valuation jumps four-fold to $3.2 billion

Bengaluru: Eruditus has raised $650 million in a new funding round led by venture capital firm Accel US and Japan’s SoftBank Vision Fund II, according to a top executive. The online executive education startup will be valued at $3.2 billion post the investment, which is a mix of primary capital infusion and secondary stake sale by existing shareholders, founder, and CEO Ashwin Damera told ET.

The Canada Pension Plan Investment Board has also invested in the firm through a mix of primary and secondary transactions in the latest financing, sources in the know said. While the company will receive $430 million in primary capital, $220 million of the secondary sale proceeds will go to existing backers like Bertelsmann, which is part selling its shares.