Edtech startup Scaler Academy declared that it had raised $55 million in a Series B funding round led by Lightrock India. The company is thinking to use the capital for expansion, inorganic growth, and in its technology platform, Abhimanyu Saxena, co-founder of Scaler, said. The funding also saw participation from the company’s existing investors Sequoia Capital India and Tiger Global.

“This is the primary capital raise, and we will use the funds for growth opportunities in markets like the United States. In the year 2022, we will focus on India as well as the US market and also look at other markets like Latin America and South-East Asia,” Saxena said. Scaler helps working professionals to upgrade their skills. Over 7,500 people have joined Scaler’s educational programmes. “The failure of institutions in India’s higher education sector has opened up many opportunities for companies like us to push a new type of thinking that looks beyond cost arbitrage-based success,” he added.