EMERITUS, an edtech company that partners with US and European universities to provide online courses to working professionals, successfully completed a $40 million Series C funding round led by Sequoia India. Existing EMERITUS investor Bertelsmann India Investments also participated.
According to the company, EMERITUS, along with its Singapore-based parent company, Eruditus, increased its student enrollment by 10 times over the past two years. In the current fiscal year, EMERITUS plans to enroll 30,000 students from across 80 countries in courses delivered in collaboration with university partners such as MIT, Columbia, Tuck at Dartmouth, Wharton, UC Berkeley, Kellogg, London Business School and IESE. EMERITUS expects to increase its enrollment by 10 times over the next five years across certificate courses and online degrees.
EMERITUS plans to use this funding to increase its course offerings in high-demand subject areas such as data science, machine learning, blockchain, and cybersecurity, and to expand its language offerings to include Portuguese and Mandarin in addition to English and Spanish.