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Eruditus partners with top-tier universities across the United States, Europe, Latin America, India, and China to bring world-class business and professional education to a global audience.
Fremont, CA: The Eruditus group, consisting of Eruditus Executive Education and its online division EMERITUS, raised $113 million in Series D round of financing(including secondary sales) led by Leeds Illuminate and Prosus Ventures (formerly Naspers Ventures) with participation from Chan Zuckerberg Initiative and existing investors Sequoia India and Ved Capital.
Eruditus has partnered with more than 30 universities to date, including MIT, Columbia, Harvard, Cambridge, INSEAD, Wharton, UC Berkeley, INCAE, IIT, IIM, NUS, and HKUST, launching more than 100 courses and serving students from more than 80 countries. Many courses are offered and facilitated in multiple languages, including Spanish, Portuguese, and Mandarin.
"We collaborate closely with our university partners to make high-quality education more accessible and affordable," said Ashwin Damera, Eruditus Co-Founder and CEO. "Covid-19 is dramatically accelerating change across higher education. We are engaging more deeply with universities worldwide to help them expand their online portfolio and global footprint. We chose Leeds Illuminate,
Prosus Ventures and the Chan Zuckerberg Initiative as mission-aligned partners that provide strategic value that goes beyond capital to support our growth."
Eruditus will use the new funds to increase its engagement with existing and new partner universities, deepen its operations in emerging markets, and invest in creating career-ready courses to meet the global workforce's skills in a post-pandemic world.
"Eruditus delivers tremendous value to working professionals and global universities, and we are delighted to partner with this team," said Susan Cates, Managing Partner of Leeds Illuminate. "Innovative and interactive courses focused on skills of the future, delivered by sought-after global brands, create upward economic mobility for learners across the world. Eruditus provides the connective tissue to facilitate talent's rise and global universities' reach."
Avendus Capital was the exclusive financial advisor to Eruditus on the transaction.