By Jane Lanhee Lee
(Reuters) – Emeritus, an EdTech platform used by some of the world’s top universities and other educational institutions for online courses, said on Thursday it raised $650 million in a funding round led by SoftBank Group Corp’s Vision Fund 2 and Silicon Valley venture capital firm Accel.
The Singapore-headquartered company said it was now valued at $3.2 billion, quadrupling its valuation from the last funding round in August 2020.
The massive injection of funds comes as online learning and related technology have received a boost from the pandemic. SoftBank alone has made several big investments in the sector, including in South Korea’s AI tutorial startup Riiid Inc and Class Technologies Inc, which makes tools that can be used with teleconferencing programs made by Zoom Video Communications Inc.
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