The edtech company will use the funding to fuel mergers and acquisitions worldwide
Mumbai, India, March 8, 2022 /CNW/ – Skilledthe global leader in making high-quality education accessible and affordable for individuals, businesses and governments around the world, has been awarded $350 million in debt financing from the Canada Pension Plan Investment Board (CPP investments) through its subsidiary CPPIB Credit Investments Inc. This funding will be used by Emeritus to fuel mergers and acquisitions as part of a strong global growth strategy.
As remote learning continues to thrive coming out of the pandemic, Emeritus is growing and innovating to meet market demand. With an annual growth rate of 120%, Emeritus estimates gross bookings at 500 million US dollars for exercise. As the company continues to grow 2.5x organically, Emeritus will also accelerate growth through inorganic initiatives. The pipeline of potential acquisitions is expected to contribute up to 30% of Emeritus’ revenue and EBITDA over the next five years.
Upon completion of this debt financing, Emeritus will have raised over 1 billion US dollars in debt and equity. CPP Investments also participated in Emeritus’ US$650 million round of financing August 2021which pushed Emeritus’ valuation to US$3.2 billionquadrupling its Series D valuation of August 2020. Noteworthy investors also include Accel, Softbank Vision Fund 2, GSV, Chan Zuckerberg Initiative, Leeds Illuminate and Prosus, as well as Sequoia Capital India and Bertelsmann and Chimera.
“Emeritus will expand our mission to make education accessible globally by deepening our investment in the education space to reach different segments and audiences,” said Ashwin Damera, Co-Founder and CEO, Emeritus and Scholar“Our acquisition pipeline will allow us to accelerate growth, impact more learners and improve our profitability.”
“The investment in Emeritus demonstrates our continued commitment to supporting industry leaders in Indiaone of our main markets in Asia Pacific,” noted Raymond Chan, Managing Director, Head of APAC Credit, CPP Investments. “The investment is also in line with our strategy of pursuing high quality credit investments in Asia Pacific and deliver attractive risk-adjusted returns for our contributors and beneficiaries. »
In FY21 alone, Emeritus reached learners in more than 80 countries and delivered programs through partnerships with more than 50 of best universities in the world. In 2021, Emeritus acquired Silicon Valley-based iD Tech, the global leader in STEM education for young people, marking Emeritus’ expansion into the K12 space.
Emeritus is committed to teaching the skills of the future by making high-quality education accessible and affordable to individuals, businesses and governments around the world. To do this, it collaborates with more than 60 leading companies the universities on the other side United States, Europe, Latin America, South East Asia, India and China. Emeritus’ short courses, degree programs, professional certificates and executive programs help individuals learn new skills and transform their lives, businesses and organizations. Its unique model of cutting-edge technology, curriculum innovation, and hands-on instruction delivered by seasoned faculty, mentors, and coaches has educated more than 250,000 people in more than 80 countries. Founded in 2015, Emeritus, part of the Eruditus Group, has more than 2,200 employees worldwide and offices in Bombay, New Delhi, Shanghai, Singapore, Palo Alto, Mexico Town, new York, Boston, Londonand dubai. Following his $650 million Series E funding round in August 2021the Company is valued at $3.2 billion, and is backed by Accel, SoftBank Vision Fund 2, Chan Zuckerberg Initiative, Leeds Illuminate, Prosus Ventures, Sequoia Capital India and Bertelsmann. Learn more about Emeritus.org and Emeritus LinkedIn.
About RPC Investments
The Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interests of more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified asset portfolios, investments are made worldwide in public equities, private equities, real estate, infrastructure and fixed income securities. Based at Torontowith offices at hong kong, London, Luxemburg, Bombay, New York City, San FranciscoSao Paulo and sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. AT December 31, 2021the Fund has totaled C$550.4 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook Where Twitter.
SOURCE Canada Pension Plan Investment Board
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