Leading edtech startup Byju’s has raised $500 million (approximately Rs 3,689 crore) in a new funding round led by global technology investment firm Silver Lake, a source familiar with the matter said in September.

Existing investors Tiger Global, General Atlantic and Owl Ventures also participated in this round which put the edtech startup’s valuation at $10.8 billion. The new investment comes barely a month after Byju’s acquired WhiteHat Jr., a Mumbai based coding platform, for $300 million.

Byju’s confirmed the new investment round without disclosing the amount raised. “We are excited to welcome a strong partner like Silver Lake to the BYJU’S family,” Byju Raveendran, Founder and CEO of Byju’s, said in a statement. “We are fortunate to be in a sector of positive relevance during this crisis. This has brought online learning to the forefront and is helping parents, teachers and students experience and understand its value.”