Tech upskilling startup Scaler (by Interviewbit) was in the news earlier this year when the Sequoia and Tiger Global-backed company raised a $55 million Series B round.
Apart from the $710 million valuation figure, Scaler did not divulge much information about the financing round. Fintrackr has gone through the Bengaluru-based company’s regulatory filings in Singapore to find out more.
Along with the institutional investors, Scaler had roped in prominent angel investors including Kunal Shah, Deepinder Goyal, Amrish Rau and Mekin Maheshwari in the last financing round. Shah put in $500K in this round followed by Rau who invested $200K. Goyal and Maheshwari invested $100K each.
Following the investments, Scaler’s founders—Anshuman Singh and Abhimanyu Singh—have 29% stake each in the company. Sequoia is the largest shareholder among investors with 22.52% whereas Lightrock and Tiger Global hold 9.66% and 8.1% stake, respectively.
Following this round, Shah acquired 0.14% stake in the company. Jupiter founder Jitendra Gupta and General Catalysts’ newly appointed partner Anand Chandrasekaran had also invested in Scaler and hold a miniscule stake in the company.
Launched in 2019, Scaler focuses on upskilling college students and tech professionals. The company offers an intensive six-month computer science course through live classes delivered by tech leaders and subject matter experts.
According to Scaler, the learners on the platform see a 4.5X return on investment from the courses. Currently, Scaler consists of over 800 employees and there are over 1,000 technology professionals who work part-time as career coaches, teaching assistants, and mentors.
Recently, Scaler had ventured into coliving space under the brand Scalerverse. It’s a new community living space for Scaler trainees and ecosystem partners. As per the company, Scalerverse has two centres in Bengaluru and the company will expand its footprint across five major cities in the next three months.
The company had also acquired online learning platform AppliedRoots for $50 million in a cash and stock deal in March. It was the second acquisition for the company in the past year which also includes coding platform Coding Element in a million dollar deal.