Blackstone acquires a majority stake in Adtech startup Simplifier, headquartered in Bangalore and San Francisco, at 250 250 million.
Simplifier runs a meaningful demand online boot amp which helps people to learn data science, AI, machine learning, cloud computing and other skills that are in demand in the market.
The startup has partnerships with a number of universities and colleges including IIT Kanpur, Caltech, and Purdue University and students who get admission and complete these courses get a certificate from these institutions.
The 11-year-old startup, which runs 1,000 live classes per month, says it has helped 2 million professionals and 2,000 companies in 150 countries, including Facebook, Micro .ft, Amazon.
The startup, which was last valued at 2016 80 million in its 2016 Series C funding round, counts Brand Capital, Calari Capital, Helian Venture Partners and Mayfield among its early supporters. Insight platform Tracks said it raised about .4 34.4 million prior to today’s deal.
Kalari Capital, Helian Venture Partners and Mayfield Fund have exited as part of the new deal, but the Simplifier team has not sold their stake, according to a source familiar with the matter.
“The epidemic has only exacerbated the need for digital skills and the industry has shown full readiness for skline online upskilling. Therefore, this is the right time to take the next big leap in our journey to become the largest digital skills company in the world, ”said Krishna Kumar, founder and chief executive of Simpleliern, in a statement.
“We believe that Blackstone can add significant value to our company due to their scale, commitment to creating industries and a global network that will enable us to develop partnerships with businesses and universities as Simplifier continues to grow worldwide.”
The acquisition by Blackstone-backed Akash Education Services, which runs coaching centers across the country, comes months after Baiju – India’s most valuable start – for about 1 1 billion. Since then Blackstone has also invested in Baiju.
This is Blackstone’s first private equity investment in a consumer technology company in Asia. […] We are excited to partner with Krishna Kumar and Simplifier’s top management team to accelerate growth and build a world-renowned digital learning company, and we expect this to be the first of many such investments in Asia, ”said Chief Amit Dixit. Asia for Blackstone, in a statement.