Eruditus secures $150 million Series F led by TPG's The Rise Fund

Eruditus, the Mumbai-based provider of professional and executive education programs, announced on October 18, 2024 that it had raised $150 million in a Series F funding round. The round was led by The Rise Fund, the impact investing platform of TPG.

Existing investors SoftBank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative also took part. As part of the transaction a TPG representative is to join the company's board of directors. Eruditus said it would direct the capital toward artificial intelligence features for learners, the expansion of its offerings for enterprises and governments, deeper investment in India and the wider Asia-Pacific region, and future acquisitions. Avendus Capital acted as financial adviser.

Eruditus, the parent company of Emeritus, works with universities to create professional learning programs, including short courses, degree programs and professional certificates. According to the company's announcement, it has served more than one million learners in over 80 countries, partners with more than 80 universities and offers upward of 700 programs. It also reported an 85 percent course completion rate, more than 1,750 employees and full-year profitability. The company has offices in cities including Mumbai, New Delhi, Singapore, Shanghai, Dubai, London, Boston and New York.