Edtech startup Scaler Academy bags $55 million in funding led by Lightrock India
Summary
Edtech startup Scaler Academy , which helps college students and tech professionals upgrade their skills, said it has raised $55 million in a Series B funding round led by Lightrock India ET was the first to report the company’s plan of a new funding round on September 15 last year. It has 50 instructors.“The failure of legacy institutions in Indias 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 Saxena.Divya Venkatavaraghavan, principal investor, Lightrock India, said, “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. They are building a learning community that is accountable for outcomes and designed for the future of work.”Shailendra J Singh, managing director, Sequoia Capital, said, “To us, 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 that makes their programmes practical and useful in the work environment. This is resulting in outstanding student NPS and exceptional job placements for Scaler students.”John Curtius, partner at Tiger Global, said, “As an experienced investor in Indias startup ecosystem, we are particularly bullish about the countrys edtech companies. Scalers relatively young age (since April 2019) is more than made up for by the vision and maturity of its founders and the 800-plus member team that is on a mission to disrupt Indias tech education space.”