Emeritus Raises $650M in Series E Funding

Emeritus, a Boston, MA-based education upskilling company, raised $650m in Series E funding.

The round, raised through a mix of primary and secondary funding and valuing the company at¬†$3.2 billion, was led by Accel and SoftBank Vision Fund 2, with participation from returning investors,¬†the Chan Zuckerberg Initiative,¬†Leeds Illuminate and Prosus, Sequoia Capital India and Bertelsmann.¬†The funding follows Emeritus’ recent¬†$200m¬†acquisition of¬†iD Tech, the world leader in youth STEM education, which marked the company’s expansion into the K12 space.

Proceeds from the round will be used to develop new courses in conjunction with university partners, create new products and industry verticals, expand the company’s business serving governments and enterprises, double-down on new geographical markets, and fund acquisitions.

Led by Ashwin Damera, co-founder and CEO, Emeritus is committed to teaching the skills of the future by making short courses, degree programs, professional certificates, and senior executive programs accessible to individuals, companies, and governments around the world. It collaborates with more than 50 top-tier universities across the United States, Europe, Latin America, Southeast Asia, India and China. 

Founded in 2015, Emeritus, part of Eruditus Group has more than 1,400 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai.