In this article we discuss the 5 largest EdTech companies in the world. If you want to read our detailed analysis of these EdTech companies, go directly to the 15 Largest EdTech Companies in the World.
5. Zuoyebang
Revenue: $150 million in 2020 via thetechee
Valuation: $10.0 billion
Zuoyebang is a Beijing-based EdTech company that has developed an online learning app which features online courses and provides a platform for live lessons to take place. It was launched in 2015 and supports both iOS and Android. It also enables its users to take pictures of mathematical problems, upload them to the app and get its solution instantly. The company uses the latest technologies in AI to identify questions and provide the relevant answers to its users. Zuoyebang targets K12 students who are enrolled in the national compulsory education system in China. It has 170 million active users and about 50 million people use its services daily. The app has 12 million paid subscribers as of 2020 according to its press release. In 2018, the app earned about $350 million in revenues.
4. BYJU’S
Revenue: $390 million in 2020 via Wikipedia
Valuation: $12.0 billion
Byju’s is an Edtech and tutoring firm based in India. It was founded in 2011 and has since become one of the most valuable private internet companies in India and in the world. Byju’s provides an intuitive online learning experience for students from class 4 to 12. It offers a large variety of subjects and provides trainings to students for examinations such as GRE and GMAT. The platform has personalized video lessons, one-on-one mentorship programs, tests and a learning app that has recently added 25 million new students because of the COVID-19 pandemic. By September 2020, 70 million students had registered on its learning app with 4.5 million paid users. The company is working with investors and SoftBank to raise about $250 million to help expand their operations to different countries.
3. Chegg, Inc. (NYSE: CHGG)
Revenue: $644 million in 2020 via Yahoo Finance
Valuation: $11.99 billion
Chegg, Inc. is a California based EdTech company that provides physical and digital textbook rentals, online tutoring, textbook solutions, and other services for students. The company was founded in 2005 and was listed publicly in the New York Stock Exchange in 2013. The company generates revenues from its student services and by 2020, Chegg has reported having 2.9 million subscribers to its services. The platform also allows students to search for internships and scholarships on the website. Subscribers must pay a monthly fee to access some services such as Study, Tutors, Math Solver, and Advanced Writing. The company has raised a total of $253.3 million in funding over a series of 13 rounds. Chegg has also acquired 16 organizations till date. Their most recent acquisition was Mathway which was acquired in June 2020 for $100 million, according to crunchbase.
2. Yuanfudao
Revenue: $1.53 billion in 2020 via edtechreview
Valuation: $15.5 billion
Yuanfudao is a Beijing-based EdTech company that has developed an online educational platform specifically designed to provide online tutoring services for students in China. It was founded in 2012 and caters to elementary school, junior high school, and high school students covering all subjects. It is equipped with targeteted learning techniques by leveraging big data analysis. According to Yuanfudao’s press release, the latest financing round has doubled the startup’s valuation to $15.5 billion. This has made the company the most valuable private edtech startup across the world. As of 2020, Yuanfudao had more than 400 million users. Yuanfudao provides several online learning products to the Chinese K12 segment such as a live tutoring platform, online question bank, question searching app, mathematics problem checking app, and an English tutoring app among others. According to the research firm iResearch, the online education market in China could be worth $81 billion by 2022.
1. Kahoot! AS (Oslo: KAHOT.OL)
Revenue: $30.8 million in 2020 via Yahoo Finance
Valuation: $39.27 billion
Kahoot is a Norwegian game-based learning platform. It uses learning games called “kahoots” which are user-generated multiple-choice quizzes which can be accessed through its website or app. Kahoot is being used to review the knowledge of students, for formative assessments, or as a break from traditional classroom activities. Although the company is based in Norway, it has a significant footprint in North America as well. According to Kahoot, the platform currently has 16.8 million active users and more than 202,000 total paying subscribers. Listed on the Oslo Stock Exchange, Kahoot is also being used by businesses as a tool for internal training. The CEO of Kahoot, Eilert Hanoa, has said that his team is adding a new feature that will enable closer integration with Microsoft Teams. The company is also rolling out new flashcard tools for students to study by themselves.
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