Industry-leading list recognizes the most transformational companies in Education Technology
BOSTON, Jan. 12, 2022 /PRNewswire/ -- Emeritus, the global leader in making the highest-quality education accessible and affordable to individuals, companies, and governments around the world, has been named to the 2022 GSV EdTech 150, a list of the world's most transformative growth companies in digital learning curated by female-led, multi-stage venture capital firm GSV Ventures. Learners worldwide are in a pivotal phase, one where education is necessary for job growth and where it is costly and difficult to access, so the role Emeritus plays in providing global access to high quality education is critical.
Emeritus was chosen from more than 3,000 venture capital and private equity-backed private companies revolutionizing the world of education technology by providing scalable solutions to meet the global need for learning. GSV estimates that together these 150 private companies reach roughly 3 billion people —almost half of the global population— and generate approximately $20 billion in revenue.
This recognition comes on the heels of major company growth and expansion in the past year. The company expanded into the K-12 space with the acquisition of iDTech (a leader in STEM education) with a $200 million investment. Emeritus also announced a $650 million funding round that advanced its valuation to $3.2 billion, quadrupling its Series D valuation from August 2020. Collaborating with more than 60 top-tier universities across the United States, Europe, Latin America, Southeast Asia, India and China, Emeritus' short courses, degree programs, boot camps, and senior executive programs help individuals learn new skills and transform their lives, companies and organizations. Its unique model of state-of-the-art technology, curriculum innovation, and hands-on instruction from senior faculty, mentors and coaches educates more than 100,000 students per year across 80 countries with an unparalleled 90% completion rate.
GSV launched the list of education technology leaders in 2020 with the EdTech 50. Due to rapid growth in the sector, necessitated by a global pandemic and continued remarkable technological evolutions, the list increased to 150 in 2021. In 2022, the sector shows no signs of slowing down with the 150 companies selected for this year's list collectively experiencing revenue growth in the high double digits.
"It is an honor to be recognized among other inspiring companies that are change-makers in the education sector," said Ashwin Damera, co-founder and CEO of Emeritus. "At Emeritus, we believe that education has the ability to empower individuals and transform lives. We're committed to continuing to impact learners' lives around the globe."
"As the global pandemic continues to drive learners online, more and more companies are innovating in the digital learning space — making it increasingly competitive for companies to make the top 150," said Luben Pampoulov, Partner at GSV Ventures. "We evaluated more than 3,000 companies globally this year. The way GSV sees it, Ed is on The Edge, and increasingly more companies have the ideas, know-how, and talent to transform the world and provide all people equal access to the future. We know these companies are well-equipped to help us achieve that goal, and we look forward to watching them do so."
To arrive at its listing, GSV evaluated more than 3,000 venture capital and private equity-backed private for-profit companies that met the following criteria:
- VC or PE-backed companies in Digital Learning, excluding public and nonprofit companies
- Companies that have achieved meaningful scale, and primarily, but not exclusively, those that are post-Series A in their development
- Companies experiencing strong, organic top-line growth
The final selection is determined by GSV's proprietary scoring system, which applies scores across several KPIs such as revenue scale, revenue growth, active learner reach, international reach, and margin profile.
See the full GSV EdTech 150 at www.asugsvsummit.com/edtech-150
About Emeritus
Emeritus is committed to teaching the skills of the future by making high-quality education accessible and affordable to individuals, companies, and governments around the world. It does this by collaborating with more than 60 top-tier universities across the United States, Europe, Latin America, Southeast Asia, India and China. Emeritus' short courses, degree programs, professional certificates, and senior executive programs help individuals learn new skills and transform their lives, companies and organizations. Its unique model of state-of-the-art technology, curriculum innovation, and hands-on instruction from senior faculty, mentors and coaches has educated more than 250,000 individuals across 80+ countries. Founded in 2015, Emeritus, part of Eruditus Group, has more than 1,400 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai. Following its $650 million Series E funding round with Accel, Softbank Vision Fund 2, GSV Ventures and CPP Investments in August 2021, the Company is valued at $3.2 billion, and is also backed by Leeds Illuminate, Prosus Ventures, Sequoia Capital India, Bertelsmann, and the Chan Zuckerberg Initiative.
About GSV Ventures
GSV Ventures is a female-led, multi-stage venture capital firm focused on the $7+ trillion education sector. The fund is currently investing out of GSV Ventures Fund III and backs innovative entrepreneurs around the world in the "Pre-K to Gray" Arc of Learning. GSV manages over $675 million in global EdTech investments. Portfolio holdings include Andela, Class Technologies, ClassDojo, Coursera, Course Hero, Degreed, Guild, MasterClass, Outlier, Photomath, Quizizz, Lead School, Brightchamps, and ClassPlus, among others.
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