Blackstone is a private equity firm based in New York, which specializes in deals in the education technology space. The company has been investing in startups since 2002 and has invested in hundreds of companies in this industry. Its most recent venture is the acquisition of a global education technology firm called Simplilearn for 250 million dollars. In this article, we’ll learn a little bit more about the deal and some of the key players involved.
Simplilearn Solutions Pvt Ltd, an online digital skilling platform, is set to receive a significant injection of funding by Blackstone. The US-based private equity firm has agreed to buy out a majority stake in the company for $250 million. This is a major deal for Simplilearn and a huge step forward for Blackstone.
Simplilearn is an online educational company that aims to help millions of people learn marketable skills. It was founded by Krishna Kumar in 2010 and has partnerships with a number of universities and companies across the globe. In addition to its free learning platform SkillUp, it offers a variety of programs and courses for individuals and businesses alike.
Simplilearn is headquartered in San Francisco, CA, and has a presence in Bengaluru, India. The company has collaborated with many leading Indian and global organizations to develop over 100 programs and courses. These include courses in data science, machine learning, AI, cloud computing, and more.
Scope of the deal
Simplilearn, an online edtech startup, is in talks to sell a majority stake in itself to Blackstone for a sum of $250 million. This is the first investment for Blackstone in the Asian consumer tech space. The US private equity firm has also invested in a number of other education technology companies in the past. These include Pirmal Glass, Mphasis, and Aakash Educational Services.
Simplilearn is an online digital skills training platform for working professionals. It offers over 100 programs ranging from digital marketing to AI. The company also has tie-ups with top universities and enterprises, such as IIT Kanpur. Founded in 2010, the company has around two lakh paid users and has 70,000 free users each month.
Simplilearn plans to expand its user base to five million by 2023. Its courses cover cloud computing, artificial intelligence, machine learning, and cyber security. To date, the company has trained two million professionals and has partnerships with 2,000 businesses. As of now, Simplilearn’s programs are available in 150 countries, including India.
Scale of the business
Simplilearn is an edtech startup that helps professionals get new digital skills. Founded in 2010, it offers a range of digital training programs to students and working professionals. It has more than two million users and has partnerships with a number of global and Indian universities. The company’s flagship product, SkillUp, is a free online learning platform.
Blackstone is a private equity firm that has invested in a range of education technology companies. These include Mphasis, Ellucian, Prestige Group and Articulate, which is a training platform for companies. In addition, it has also invested in offline test preparation services provider Aakash Education Services, which was recently sold to Byju’s for $1 billion. Among the other investments made by Blackstone, it has also acquired a stake in Ascend Learning. Similarly, the company also has a deal to acquire Pirmal Glass, an Indian manufacturer of glass.
Simplilearn is one of the first tech startups to receive major funding in India, and Blackstone’s acquisition is an indication of the interest the firm has in the country. Earlier, it received a substantial amount of funding from investors like Kalaari Capital, Helion Venture Partners and Brand Capital.
Global expertise in education technology
Simplilearn is a leading digital skilling platform, based in Bengaluru and San Francisco. It offers courses in a wide range of digital skills, including cloud computing, data science, machine learning, artificial intelligence and more. This online training platform is operated in partnership with some of the world’s most respected universities. The company is backed by investors such as Kalaari Capital, Brand Capital and Helion Venture Partners.
As part of its investment, Blackstone will provide education technology expertise to Simplilearn. The firm has a global presence in education technology, having acquired firms such as Ellucian, Articulate, Mphasis, Prestige Group, and Piramal Glass. By investing in Simplilearn, Blackstone expects to enter the consumer tech space in Asia for the first time.
Simplilearn has a free online platform, SkillUp, that aims to onboard five million users by 2023. It also has partnerships with a number of international and Indian universities. In addition, it has established itself as one of the leading online ‘bootcamps’ in India.