Edtech Simplilearn has raised $45 million in a fresh round of funding led by global edtech-focussed venture capital firm GSV Ventures, the company said in a statement on Wednesday.

Clal Insurance, DisruptAD, and ADQ’s venture platform also participated in the round, which has taken place at a time when the technology funding ecosystem and the edtech market in general are witnessing volatility.

In recent months, Indian edtech firms such as Unacademy and Byju’s have announced austerity measures and layoffs, anticipating delays in funding rounds on the back of an unfavourable global macroeconomic environment.

Founded in 2010, Simplilearn offers digital skilling programmes for professionals, enabling learners to upskill and get certified in fast-growing digital domains.

It creates these programmes in collaboration with education institutions such as Purdue University, Wharton Online, IIT Roorkee and IIT Kanpur, as well as technology majors such as IBM, Microsoft, Amazon, Meta and KPMG.

“The Blackstone investment last year came at an ideal time to boost our growth globally, and further strengthen our customer-centric approach. Today, we are excited to partner with GSV Ventures, a globally recognised investor with a strong track record in the education sector, along with a strong set of co-investors in Clal Insurance and DisruptAD. This funding … at a time when the industry is going through turmoil … stands as a testimony to our steady, profitable growth,” said Krishna Kumar, founder and CEO of Simplilearn.

In June 2021, the company had announced that private equity major Blackstone had invested $250 million (over ₹1,870 crore) in it for a controlling stake.

Since then, Simplilearn claims to have added more than 120,000 paid B2C learners and another 100,000 enterprise learners on its platform.

The company claims to have over 2 million learners on its free digital training platform SkillUp. Avendus was the financial advisor to Simplilearn for the transaction.