Simplilearn, the higher edtech platform driven by private equity firm Blackstone, has raised $45 million at an undisclosed valuation in a new funding round led by GSV Ventures, as a slump in online learning intensifies competition for higher education and upskilling.

On November 16, Simplilearn said: Clal Insurance and ADQ’s venture capital platform, DisruptAD, also participated in the round. Simplilearn said it would use the funds to fuel its growth plans in India and international markets.

Founder and CEO Krishna Kumar expressed gratitude for the company’s achievements and said the investment in Blackstone in 2021 is well-timed as it is fuelling its global growth.

Founded in 2010, Simplilearn provides digital skills training programs for professionals, enabling them to upskill and gain certification in a rapidly evolving digital environment.

The company cooperates with educational institutions such as Caltech CTME, MIT Schwarzman School of Computing, UMass Amherst and Isenberg School of Management, Purdue University, Wharton Online, IIT-Roorkee and IIT-Kanpur, IBM, Microsoft, Amazon, Meta and KPMG cooperation.

Simplilearn has added over 1.2 lakh paid business-to-consumer (B2C) learners and over 1 lakh corporate learners to its platform. It also claims to have more than 2 million free learners on its SkillUp platform.

In July 2021, Blackstone acquired a majority stake in Simplilearn. The company’s consolidated revenue rose 35% to Rs 346 crore in FY21 (FY20-21). However, it reported a full-year loss of Rs 5.7 crore compared with a profit of Rs 1.4 crore in FY20 (FY19-20). The company has yet to file results for FY21-22.