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Sequoia, Lightspeed exit TutorVista through $213m Pearson purchase

25 Feb 2013

education_lrgSequoia Capital and Lightspeed Venture Partners have exited their investments in India-based education services company TutorVista after Pearson paid $213m for the business.

The company had raised more than $33m over the years from the venture firms and strategic investors Manipal Education, Medical Group and Pearson.

Tutorvista claims to be the largest online tutoring company in the world, and a leader in the ICT, tutorials and schools business in India through its subsidiary Edurite.

Sequoia managing director KP Balaraj, an early TutorVista investor and partner of founder K Ganesh, said, “Ganesh and his team have built an amazing, profitable and high growth business from seed stage idea a few years ago.

“We are very proud and happy to have believed in TutorVista’s vision from the early days and have been impressed with its rapid growth.  They have accomplished, probably for the first time in India, the creation of a US consumer Internet brand built entirely from India.”

Launched in 2005, TutorVista has grown to provide more than five million online session to date to students across the globe.

The company has more than 2,000 teachers spanning India, the US, UK, Australia, China and South East Asia.

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