Scaler completes USD 55 million funding
Scaler, one of the fastest-growing tech upskilling startups, said it has done the successful completion of Series B funding of $55 million led by new investor Lightrock India along with two existing investors, Sequoia Capital India and Tiger Global.
With a valuation of USD 710 million, with this fresh round of funding, the total capital raised by Scaler Academy since January 2020 stands at USD 76.5 million.
“The failure of legacy institutions in India’s higher education sector, particularly in the IT space, has opened up opportunities for avowed status-quo disruptors like Scaler to push a new kind of thinking that looks beyond cost arbitrage-based success,” said Abhimanyu Saxena, co-founder, Scaler and InterviewBit. “Technologies like machine learning and data science will create a new kind of India powered by communication technologies like 5G that will have a far-reaching impact on the country’s socio-economic status. We are creating the skilling ecosystem that will ensure that we succeed by creating a future-ready India. We decided to go with Lightrock India and our existing investors (Sequoia Capital India and Tiger Global), who share our vision of what we are trying to do at Scaler.”
“The team at Scaler Academy (and InterviewBit) are transforming higher education in India by democratising the privilege of working in technology for millions of Indians,” said Divya Venkatavaraghavan, principal investor, Lightrock India. “They are building a learning community that is accountable for outcomes and designed for the future of work. We are privileged to partner with them on this exceptional journey as they help unlock the demographic dividend of India.”
Shailendra J. Singh, managing director, Sequoia Capital (India) Singapore, said the most distinctive part of Scaler’s strategy is that they are super focused on extremely high-quality computer science education, delivered with their own unique approach. This makes their programs practical and useful in the work environment. “This is resulting in outstanding student NPS (net promoter score) and exceptional job placements for Scaler students,” said Singh.
With a valuation of USD 710 million, with this fresh round of funding, the total capital raised by Scaler Academy since January 2020 stands at USD 76.5 million.
“The failure of legacy institutions in India’s higher education sector, particularly in the IT space, has opened up opportunities for avowed status-quo disruptors like Scaler to push a new kind of thinking that looks beyond cost arbitrage-based success,” said Abhimanyu Saxena, co-founder, Scaler and InterviewBit. “Technologies like machine learning and data science will create a new kind of India powered by communication technologies like 5G that will have a far-reaching impact on the country’s socio-economic status. We are creating the skilling ecosystem that will ensure that we succeed by creating a future-ready India. We decided to go with Lightrock India and our existing investors (Sequoia Capital India and Tiger Global), who share our vision of what we are trying to do at Scaler.”
“The team at Scaler Academy (and InterviewBit) are transforming higher education in India by democratising the privilege of working in technology for millions of Indians,” said Divya Venkatavaraghavan, principal investor, Lightrock India. “They are building a learning community that is accountable for outcomes and designed for the future of work. We are privileged to partner with them on this exceptional journey as they help unlock the demographic dividend of India.”
Shailendra J. Singh, managing director, Sequoia Capital (India) Singapore, said the most distinctive part of Scaler’s strategy is that they are super focused on extremely high-quality computer science education, delivered with their own unique approach. This makes their programs practical and useful in the work environment. “This is resulting in outstanding student NPS (net promoter score) and exceptional job placements for Scaler students,” said Singh.
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