ALSO READ: India's only edu-tech Unicorn Byju's could double valuation to $2.2 bn
One venture capitalist who declined to be named points out to Byju's well organized sales and marketing teams that actually make appointments and visit parents homes while demonstrating how their product adds value. "Parents find it hard to say no to a product that may help their kids do better at school. He adds that "India has an exam-oriented culture and preparation for that drives the business."
India has a student body poulation of roughly 300 million people that form a potential market for Byju. Emails sent to General Atlantic and Byju's were not replied to as off press time. General Atlantic's other investments have typically been driven around financial technology ventures and businesses that connect closely with consumers. They include the House of Anita Dongre, IndusInd Bank, PNB Housing Finance, Ching's Secret, KIMS Hospitals, Billdesk, and IIFL Wealth & Asset Management.
Byju's app has 20 million registered students and 1.26 million annual paid subscribers, and sees 1.5 million registered students join every month. The online tutoring firm which employs over 2000 employees including a product division of 800 members has in the past also acquired Online educational platform that include Vidyartha, Edurite, and TutorVista. Byju has so far raised money from investors that include The Chan-Zuckerberg Initiative, Sequoia Capital India, Sofina, Light Speed Venture Partners, Belgium-based Verlinvest, Tencent, Times Internet and others. Other companies
in the same space are Coursera, and Toppr.