Scaler, an upskilling platform that helps students gain new skills to further their career prospects, has become the latest startup to cross the US$700 million valuation mark.
The Bengaluru-based startup recently secured a new round of funding from investors such as Lightspeed Venture Partners and Sequoia Capital.
In this article, we’ll discuss the latest funding, Scaler’s plans for the future and the potential impact of this new investment.
Overview of Scaler
Scaler is an upskilling platform that enables employees to acquire the necessary skills for the future of work. It specializes in various skills – emerging technologies and modern problem-solving techniques. The company provides its services directly as an enterprise solution, in collaboration with universities and colleges, and through its marketplace partners. In addition, through its Scaler Accelerator Program and Network, the company assists companies in rapidly transforming their workforce and staying ahead of competition.
Since its inception in 2017, Scaler has grown rapidly and raised more than $142 million from investors led by General Atlantic, Dragoneer Investment Group and Spectrum Equity. In October 2020, it announced another $100 million funding at over $700 million valuation – making it one of India’s most valuable edtech startups. The new funds will be used to expand its portfolio and upgrade its technology stack, while actively investing into students’ learning journeys worldwide.
Overview of new funding
Scaler, an upskilling platform, has become the latest Indian startup to join the unicorn club after raising $115 million in its latest funding round, valuing over $700 million. Tiger Global led the funding and other investors included General Catalyst and Accel.
This funding comes from investments in ed-tech startups in India that have shown long-term potential despite economic uncertainties due to the COVID-19 pandemic.
Scaler’s mission is to help professionals develop IT skills across programming languages, data science, algorithms & AI/ML functions amongst a comprehensive portfolio of upskilling solutions for businesses. It uses cutting edge technology like machine learning and artificial intelligence to offer personalized learning experiences through its interactive dashboard and host several events globally including hackathons and conferences targeted towards technology professionals.
Since its inception less than three years ago, Scaler has seen tremendous growth with more than 600 paying customers across 50 countries and 1 million students enrolled on their platform learning new skills every day. Through this fundraise Scaler plans to accelerate product innovation and global expansion plans while also investing in creating resources that can cater to upcoming technologies such as quantum computing.
Upskilling platform Scaler tops $700 million valuation in new funding
Scaler, an upskilling platform, has secured $100 million in funding, taking its total valuation to $700 million. This funding round was led by SoftBank Vision Fund 2, and included participation from investors such as Steadview Capital, Sequoia India, and Tiger Global Management.
The funding will help Scaler expand its platform and offer new ways to help people upskill. First, let’s look at the details of the funding and how it will benefit Scaler.
Who are the investors
Scaler, an edtech firm and upskilling platform, has recently announced new funding that has raised its overall valuation to over $700 million. The funding round was led by venture capital firms such as Sequoia Capital, Steadview Capital, A31 Capital and Falcon Edge. Other participating firms included Canada’s CDPQ and 3one4 Capital.
This company of over 4,000 engineers have been providing online education centers that offer industry-specific courses with direct job connections. As a result, India’s top IT companies have used Scaler’s services when recruiting for entry-level jobs including Accenture, Cognizant and Wipro. This new investment is expected to expand their operations into other countries such as South-east Asia and the US and increase their offerings in data science, digital marketing and cloud computing fields.
The wide variety of investors from around the world show great confidence in Scaler’s mission to create a global skills training platform. With employers turning towards upskilled employees in the technology fields on the rise, Scaler looks well positioned to capitalize on this growing demand for technical talent.
How much money was raised
Scaler, a Bengaluru-based upskilling platform, has raised new funding totalling USD 120 million. This new round of funding from investors including Seven Seas Venture Partners and Falcon Edge Capital comes months after the firm secured $100 million in December 2020. The company’s total valuation has now exceeded $700 million with this new round.
The new funds will further enable the acquisition of technological capabilities and talent, focusing on driving growth across India, North America and Europe. The money will also help Scaler further strengthen its product suite offering which currently comprises features such as:
-Mentored Programs: Scaler’s programs offer hands-on mentorship from industry experts, deep immersion in projects and 5+ specialised skill upgrades – helping individuals master AI/ML & Data Science technologies quicker than ever before.
-Coding Academy: A hands-on training programme that helps learners master all aspects of coding in 100+ Hours – giving them the skills required for success in their jobs & interviews.
-Live Classes: Real Time interactive classes that allow users to understand, learn & apply hands-on project experience during the live session – enabling people to quickly enhance their technical knowhow from anywhere around the world.
What will the funds be used for
Scaler, a San Francisco-based upskilling platform, has announced that it has raised $90 million in a new financing round. This puts the company at a valuation of over $700 million and the funding will be used to accelerate the company’s international expansion and investments in research and development.
The new funding round was led by Lightspeed Venture Partners with participation from existing investors Matrix Partners, Bessemer Venture Partners, and Emergence Capital.
Scaler provides education services to jobseekers, including self-paced courses on emerging technologies such as machine learning, artificial intelligence, blockchain. They also facilitate an online coding bootcamp which covers essential programming topics within 8 to 10 weeks. In addition to these programs, Scaler provides professionally supported networking events and community mentoring sessions to boost students’ employability.
The funds are set to be used for further upgrades of their technology and expanding their services across more international markets such as Latin America, Middle East etc., while also opening up campus classes in cities worldwide as an educational supplement.
Impact of the Funding
Scaler has recently announced the successful close of its latest funding round, leaving the company with a valuation of $700 million. This marks a huge milestone for the upskilling platform, and has significant implications for Scaler’s mission of helping students and professionals in the tech industry.
In this article, we will explore the impact of the new funding on Scaler and its vision.
How will the funds be used
The fresh capital infusion, which is up from just $35 million in June 2020 and more than $140 million in October 2020, takes the total amount raised by Scaler to over $850 million. This sets a new record for the Indian tech startup ecosystem, with startup giant Flipkart being the next highest at less than half of Scaler’s funding.
Scaler has announced that this current round of funding will be used for various strategic initiatives including hiring medical and educational professionals and other experts to build a multi-disciplinary curriculum in areas such as data science, machine learning, cloud computing, digital marketing, product management etc.
Moreover, the funds will also be used to increase partnerships with global enterprises and universities providing courses in higher-valued certifications and specialisations like software engineering programs and business analytics programs.
The fresh liquidity will also aid Scaler’s expansion into markets such as the US and Europe. This expansion could help attract regional partnerships with universities to expand its course offering further. Additionally, there are plans to develop a program catering to students aspiring to gain skills employers look for while hiring recent graduates.*
What will the impact be on the company
The new funding for Scaler will allow the company to expand its current operations and move towards its goal of helping 1 million professionals acquire advanced skills required for digital transformation. In addition, this funding will further enhance Scaler’s position as a leader in upskilling solutions, allowing it to scale up quickly to meet the growing demand for digital transformation.
The additional funding is expected to bring about several changes in the company, such as introducing new products and services, broader geographical reach and access to more resources. It will also help Scaler fund its ongoing research into cutting-edge technologies like artificial intelligence, automation and machine learning. These technologies are expected to play a larger role in reshaping how organisations hire and onboard employees.
Scaler also plans to use this additional capital to develop strategic partnerships with enterprises which can then leverage the platform’s training programs to simplify their recruitment process. With scalability being key when dealing with manpower requirements of enterprises, Scaler can ensure that organisations can benefit from cost savings at scale with its stimulating training solutions. Additionally, through these partnerships Scaler aims to extend its reach globally by enabling enterprises across multiple industries to access its portfolio of courses and gain access to experts driving skills enhancement today.
What will the impact be on the industry
The news of Scaler’s recent USD 700 million funding round has sent shockwaves through the digital upskilling industry. The new capital infusion will fuel the company’s growth and accelerate its mission to make tech-enabled career pathways accessible to professionals worldwide. With this new influx of funds, Scaler is looking to innovate and expand its presence into multiple international markets. This could mean a significant shift in the landscape of digital upskilling programs and potentially create more employment opportunities for educated professionals in sectors such as software development, cloud computing, data science, artificial intelligence, machine learning, mobile development and more.
The new funding for Scaler represents a major investment in digital upskilling. It sets a global precedent for other notable players in the industry looking to attract investments from venture capitalists or private equity firms. Furthermore, this additional capital will likely lead to increased competition among existing companies as larger tech giants enter the fray for higher market share. It may also expand product offerings by current players as they look towards developing better and more advanced courses that better cover every aspect of emerging technologies such as cloud computing and AI-driven automation processes.
By creating economies of scale through aggressive expansion plans and strategic partnerships, companies like Scaler are likely to drive down prices of training programs while at the same time providing access to quality education at affordable rates across multiple verticals. This could be especially beneficial for aspiring professionals who want access to comprehensive digital upskilling courses without spending too much money on them. In addition, all these elements are expectedly going to spark a wave of innovation within the industry paving way for smarter pathways that can help aspiring professionals get ready for lucrative career opportunities faster than ever before.
Future Plans
Scaler, a Mumbai-based upskilling platform, announced that it has raised an additional $60 million in funding, taking its total valuation to $700 million.
With the new funds, Scaler plans to further its mission of creating job-ready professionals and providing job opportunities. The company also laid out its plans for the future, which includes hiring and training more people, developing its offerings, and expanding its reach.
Let’s have a look at what the future holds for Scaler.
What are the company’s plans for the future
Scaler, a platform for upskilling employees, has recently raised 450 million dollars at a valuation of 700 million dollars. With this fresh funding and success, the California-based company has plans to use its resources to continue optimising education through technology and build bridges between employers and employees.
The company vision is to help people and companies thrive in the global market as they focus on providing professional individuals with upskilling, reskilling and career paths designed uniquely for each user. To do so they plan on expanding their range of courses and certifications available on their platform with new collaboration with industry leaders such as IBM, Appian, SpringML & Flatiron Health among others to offer more hands-on projects & job roles for users.
In addition to expanding their course catalog, Scaler also plans to expand its reach beyond India’s borders by expanding across different geographies from Europe to Latin America and Asia Pacific regions to offer access of their offerings globally. Moreover, through partnerships with universities such as Duke CEFRL & Berkeley International Office they aim towards helping students transition more seamlessly into the workforce by exposing them to real-world experiences & skills needed to be successful once out of academics.
With these investments, Scaler aims to become the go-to destination for future professionals seeking meaningful career opportunities, which will in turn benefit both employers & employees alike as it sets out tackling current skill gap issues worldwide.
What new features or services will be available
Scaler’s new funding enables it to expand its product offering, develop new services, and provide more value to its existing customers. This will include introducing integrations with some of the world’s top technology companies such as Microsoft, Google and Apple and developing virtual learning programs on different technologies such as machine learning, artificial intelligence and cloud computing.
The upskilling platform also plans to launch multiple partner programs to provide industry experts across development, product management, marketing and engineering areas with access to real-time job listings on Scaler’s platform. In addition, it aims to expand its reach beyond India and Southeast Asia into regions like the Middle East and Latin America by creating specific courses that cater directly to local talent pools’ needs.
Going forward, Scaler is also considering introducing quick start tutorials to help individuals immediately get started on a specific technology or an industry concept within minutes. The organisation is constantly experimenting with various tools such as AI-powered coaching agents & recommendation engines so users can better leverage their potentials in learn & earn scenarios in the ever-evolving job field.
How will the company continue to grow
Scaler, a coding upskilling platform founded in 2019, announced on April 13th, 2021 that it has secured a new round of funding valuing the company at more than $700 million. This came from a group of investors led by Coatue Management LLC.
The funds will help Scaler expand its online courses and increase employee engagement in upskilling activities. Furthermore, the company plans to use new resources to offer global hiring teams access to world-class tech talent and further their purpose of preparing the world for the future of work.
As part of its mission to provide students with access to high-quality tech training courses globally, Scaler plans to continue expanding its network of partners and client institutions by offering customizable learning solutions and career advancement programs. It is also planning on launching content designed to better equip college drop-outs with employable skills and support career goals paving their path into tech roles without having any previous engineering experience.
In addition, the company is actively investing in research dedicated to creating adaptive learning mechanisms that “enable constant contributions made by learners at all levels” towards increasing engagement levels across users. This will allow them to tailor content based on individual needs and preferences to maximize its impact on learners even further.
Scaler’s funds will also be used for international expansion including initiatives in Europe and North America with partnerships with universities like PwC Academy India and IIT Bombay’s National Programme on Technology Enhanced Learning (NPTEL). All these steps are being taken towards making Scaler capable of empowering global citizens to access job role-specific learning from industry leaders, thereby enabling equal opportunities for anyone hungry enough for success regardless of individual limitations or challenges faced as part of today’s economic ecosystem.
