58 EdTech Mega $100m+ VC Rounds
Fifty-Eight. Believe it or not, that is the number of education mega venture-capital rounds > $100M.
Earlier this week, Zouyebang (作业帮) closed a $750M Mega Round. Last week Byju’s became EdTech’s first ‘Decacorn’ (valued > $10B). Last quarter Yuanfudao (猿辅导) completed a USD $1B Series G, the single largest raise by an education company anywhere in the world. As of 2 July 2020, there are 19 EdTech Unicorns around the world who have collectively raised over $9 billion of total funding in the last decade. Not all 42 companies that have disclosed a $100M Mega Round have disclosed their valuation, many have raised below the Unicorn valuation threshold and others are purposefully avoiding the Unicorn label. Together, the 42 companies that have raised the 58 Mega Rounds have secured nearly $16B of funding from investors.
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The chart above shows the funding evolution of the 42 education companies that have raised 58 $100m+ VC rounds this decade. Each dot represents a funding round, the lines represent individual companies and link their respective funding rounds. Chinese companies in red, US in blue, Indian in green and Southeast Asia + Africa (Andela – Africa focused, based in the US) in yellow.