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Eruditus Secures $150 Million Series F Funding Led by TPG’s The Rise Fund

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With participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative

Eruditus, the parent company of Emeritus, closes funding round to deepen investment in AI products and accelerate growth of enterprise business after achieving profitability

MUMBAI, India, Oct. 18, 2024 /PRNewswire/ — Eruditus, the global leader in making high-quality education accessible and affordable to individuals, companies, and governments around the world, announced today that it has raised a $150 million Series F fundraise led by TPG’s The Rise Fund, the multi-sector strategy of TPG’s global impact investing platform, with participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative. This highlights the company’s remarkable growth and impact through continuous innovation in high-quality career-oriented education across the globe. The raise comes on the heels of a banner year for Eruditus in which the company was named the #1 Global EdTech by Time and achieved profitability on a full-year basis.

The funding bolsters Eruditus’ global growth and will be used to invest in AI technology to further enrich the learner experience, expand the company’s rapidly growing business serving governments and enterprises and deepen its investments in the India and APAC regions. As the company continues to grow and scale, it eyes future acquisitions and investments, which have historically contributed to impressive topline growth and expansion in strategic markets. Avendus Capital was the exclusive financial advisor for the fundraise.

Eruditus’ mission to make high quality education accessible and affordable around the world has never been more critical. Business today is changing faster than ever—and the AI revolution means it’s set to change even faster. The company is accelerating its investments in technology to harness the power of generative AI to further enrich the learner experience and provide enhanced learning solutions. Eruditus has already launched proprietary AI-powered tutors for students and programs with partner schools. The need for training in the age of AI is driving unprecedented demand for the company’s enterprise solutions that grew revenue 45% last year.

Steve Ellis, a Managing Partner of The Rise Funds, said “Eruditus is expanding access to new education opportunities and giving professionals at all stages of their careers the skills they need to advance and succeed in today’s rapidly changing workplace. Eruditus’ mission aligns with a core investing theme for The Rise Funds, which focuses on backing strong businesses that are opening pathways to high quality education and driving greater lifetime earning potential for their students. We look forward to working with Eruditus to further enhance the platform and scale the business globally.” As part of The Rise Fund’s investment, TPG’s Simit Batra will join Eruditus’ board of directors.

Today, more than 80+ top tier university partners around the world work with Eruditus to create over 700 professional learning programs delivered to more than 1 million individuals in 80+ countries. The company’s industry-driven certification programs, professional certificates, and workforce leadership development initiatives are defined by personal engagement between faculty and students, course customization, mentoring and coaching, and career counseling. The results are evident in course completion rates of 85% for their professional learners.

“With this investment, we’re excited to continue to grow and innovate to meet market demand,” said Ashwin Damera, CEO, Eruditus and Emeritus. “In a rapidly evolving business environment, we have reimagined education by bringing programs from the world’s leading universities to learners around the globe. Education is the key to transformation, for individuals, companies, and society and we’re appreciative of the support of our investors who enable us to accelerate our growth.”

About Eruditus
Eruditus, the parent company of Emeritus, is committed to teaching the skills of the future by making high-quality education accessible and affordable to individuals, organizations, and governments worldwide. It does this by collaborating with more than 80 top-tier universities across the United States, Europe, Latin America, Southeast Asia, India, and China. Eruditus’ 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 1 million individuals across 80+ countries. The Eruditus Group has more than 1,750 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai. The company is backed by TPG, the Chan Zuckerberg Initiative, Leeds Illuminate, Prosus Ventures, GSV Ventures, Peak XV, Bertelsmann, CPP Investments, Accel and SoftBank Vision Fund 2. For more information, please visit www.Emeritus.org.

About The Rise Funds
The Rise Funds are a core pillar of TPG Rise, TPG’s global impact investing platform. Founded in 2016, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on achieving the United Nations’ Sustainable Development Goals. The Rise Funds deliver capabilities and expertise across a wide variety of sectors and countries at scale, focusing on opportunities in climate and conservation, education, food and agriculture, financial inclusion, healthcare, and impact services.

With approximately $19 billion in assets across The Rise Funds, TPG Rise Climate, and the Evercare Health Fund, the TPG Rise platform is one of the world’s largest private markets impact investing platforms committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns.

For more information, visit therisefund.com.

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View original content:https://www.prnewswire.co.uk/news-releases/eruditus-secures-150-million-series-f-funding-led-by-tpgs-the-rise-fund-302280128.html

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Yoncare s.r.o. partners with Block Clinical Inc. to deliver EU-centric clinical trial participant travel and payment services in Europe

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PRAGUE, Oct. 18, 2024 /PRNewswire/ — Yoncare s.r.o., a provider of medical travel coordination services, is thrilled to announce its strategic partnership with Block Clinical Inc., a trailblazer in healthcare technology solutions. This collaboration marks a significant milestone for Yoncare as it sets its sights on the European market.

Block Clinical Inc., known for its innovative clinical trial patient travel and payment solutions, brings unparalleled expertise delivering site and patient services while leveraging its bespoke software, built from the ground up to improve the quality of service delivery.

Key Highlights of the Partnership:

Patient-Centric Approach

Yoncare and Block Clinical share a commitment to patient-centric service and solutions. Yoncare will deliver personalized pre-paid travel and payment services that reduce the burden of clinical trial participation for patients and caregivers, by leveraging Block Clinical´s purpose built software.

Software Powered Service

Block Clinical’s platform enables high quality interactions between patient travel and payments coordinators, sites, and patients while ensuring that data exchanged between travel and payment suppliers is secure, transparent, and remains in the EU.

European Focus

The partnership aims to address the unique needs of European based patients, sites, and sponsors, as well as country level regulatory and data processing requirements (e.g. MR-001 in France). Additional EU-based suppliers have been integrated into Block’s App to provide localized options and more choice for EU participants. These suppliers include ground transportation, hotel, and one of the largest consumer payments providers in Europe.

Block Clinical and Yoncare are united by a shared vision:

Prioritizing patients and enhancing accessibility to clinical trials. This collaboration marks a pivotal stride toward realizing that vision.

Veronika Magdalena Jonczy, CEO of Yoncare says:

“Our collaboration with Block Clinical Inc. is a game-changer. We firmly believe that leveraging Block’s software will leave a lasting, positive imprint on the clinical trial industry and, most importantly, on the lives of those participating in clinical research. Together, we will ensure that patients receive world-class support while navigating the complexities of clinical trial participation and cross-border healthcare.”

Zac Carr, CEO of Block Clinical says:

“We are excited to join forces with Yoncare. Our shared vision of leveraging technology to improve service aligns perfectly. Dedicated travel and payment services reduce burdens for patients and sites, and ultimately improves trial performance through higher site and patient satisfaction and retention. Together, we will create an EU-centric solution for clinical trial stakeholders.”

For more information about these services please contact us at info@blockclinical.com or info@yoncare.eu.

About Yoncare s.r.o.: 
Yoncare s.r.o. is a Prague-based medical travel care and coordination company, founded by Veronika M. Jonczy, DiS., that leverages her vast experience in destination management and patient coordination. Yoncare benefits from the founder’s two decades of experience in the fast-paced destination management industry and her unwavering dedication to superior customer service. Yoncare’s specialty lies in medical travel coordination, streamlining the process for both patients and clinical sites.

About Block Clinical Inc:
Block Clinical’s trial logistics and payment automation platform delivers integrated services ranging from site and patient payments to high-touch patient and site convenience services that improve satisfaction. Whether the trial is conducted at a research site, at a patient’s home, or virtually, the result is an enhanced trial experience for patients and caregivers that maximizes performance, engagement, and quality of clinical trials.

View original content to download multimedia:https://www.prnewswire.com/news-releases/yoncare-sro-partners-with-block-clinical-inc-to-deliver-eu-centric-clinical-trial-participant-travel-and-payment-services-in-europe-302280044.html

SOURCE Block Clinical Inc

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Busy inbound and outbound travels testify to greater economic vitality in China

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BEIJING, Oct. 18, 2024 /PRNewswire/ — A news report from China.org.cn on traveling to China:

 

China’s National Day holiday has just passed, but many scenic spots in tourism cities still remain a scene of “people mountain people sea.” In this year’s sea of visitors, one can find more international tourists than in past years.

In recent years, China has paid great attention to further opening up. Frequent new measures have brought more positive changes to the country’s visa policy: The number of countries offered the unilateral visa-free policy has increased to 20; the 144-hour visa-free transit policy is now available for 54 countries at 37 ports; port-visa application has also been relaxed, providing more convenience for international friends in emergencies. Facilitated by these policies, more than 8.54 million visa-free visits have been made to China in the first half of this year, accounting for more than 50% of all inbound visits, and up by 190.1% year-on-year.

Besides the substantial rise in visits, the demographics of international visitors have also diversified. Many “elderly tour groups” chose to travel in China, embellishing their retirement lives with the country’s profound history and charming sceneries. Children and teenagers can also be seen everywhere with their parents, enjoying Chinese gourmet foods, buying figurines, immersing themselves in a different lifestyle, and feeling the vibe of an energetic China.

Previously, there were international tourists who complained about how they were troubled by the trendy cashless payment in China. A few months have passed, now most tourists from other countries can just swipe their own bank cards around many places in China. There are also many travel destinations in the country that provide considerate guidance, from SIM card registration, mobile payment binding, to hotel bookings.

Upon an easy and smooth entry, bilingual signs can be seen everywhere, and there are also hospitable Chinese residents who are always there to lend a hand, plus with the help of translation-via-camera apps, one can get around in China without too much inconvenience caused by language. With the language barrier out of the way, experience comes next — the handy and efficient subways and high-speed trains, accessible products and services under various scenarios with surprisingly abundant choices, plus the unique atmosphere featuring an integration of historical profoundness and modern zeal, urging those who have been to China recommend the country to their families and friends. With “China Travel” leading a trend on social media, it’s only natural for so many international tourists to flock to China.

While inbound visits have seen such hustle and bustle, similar scenes also occurred for domestic tourists. Official statistics show that during the National Day holiday, Chinese domestic tourists spent a total of 700.81 billion RMB, 7.9% up compared to 2019, before the pandemic. What’s especially worth noting is that, during this holiday, many third, fourth, and fifth-tier cities, as well as counties, have shown great vibrancy. On only one of the many travel booking platforms in China, more than 40% of the long-distance outbound travel orders came from residents living in the lower-tier cities and counties, which proves travel to be an increasingly ordinary demand for more and more people. Moreover, as the counties in China see higher-quality development, their infrastructure have also improved, drawing more tourists to travel in the counties, even becoming a new trend.

Behind larger tourist numbers and greater diversity of destinations, people can see a more open and vigorous economic environment, which also resonates with people’s confidence in the future.

China Mosaic

http://www.china.org.cn/video/node_7230027.htm

Busy inbound and outbound travels testify to greater economic vitality in China

http://www.china.org.cn/video/2024-10/18/content_117493061.htm

View original content to download multimedia:https://www.prnewswire.com/news-releases/busy-inbound-and-outbound-travels-testify-to-greater-economic-vitality-in-china-302280208.html

SOURCE China.org.cn

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Transformation and expansion of an industrial building in Ahuntsic-Cartierville into a new art center and community space, the CAB – Battat Art Center

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MONTREAL, Oct. 18, 2024 /CNW/ – The renovation and expansion of an old industrial building to create the Battat Art Center, the CAB, will reduce the ecological footprint of the building and support art and culture. The project is made possible by a $10.2 million investment from the federal government.

Announced by the Honorable Mélanie Joly, this project, located on Port-Royal Street in the Ahuntsic-Cartierville borough, will offer a variety of spaces for creation and performance, supporting artists and promoting public appreciation of the arts.

A thriving economy needs strategic investments in green infrastructure to build a sustainable future for Canadians, with access to good jobs, while limiting impacts on the local environment

The funding for this artistic building will be used to preserve the exterior envelope, as well as its existing architectural and structural components made of wood, masonry, and steel. The Center has prioritized the enhancement of the built heritage rather than starting from scratch. A new structure, primarily made of large timber from Quebec, will be erected to promote this craftsmanship and structural system. Additionally, the expansion will be built following zero-carbon building design standards and will increase the existing space from two to four floors, allowing for the installation of artist studios and exhibition rooms. This initiative supports the values of sustainable development by integrating ecological and economic strategies while providing quality spaces for the artistic community.

The GICB program aims to improve the places Canadians work, learn, play, live and come together by cutting pollution, reducing costs, and supporting thousands of good jobs.

Through green and other upgrades to existing public community buildings and new builds in underserved communities, the GICB program helps ensure community facilities are inclusive, accessible, and have a long service life, while also helping Canada move towards its net-zero objectives by 2050.

Furthermore, the Battat Art Center will also receive a maximum financial support of one million dollars from the Government of Quebec, through the Programme d’innovation en construction bois (PICB).

Quotes

“By investing in our green infrastructure, we are investing in the future of our communities. I am pleased to announce this federal funding, here in my riding of Ahuntsic-Cartierville, for the renovation and transformation of the building that will house the Centre d’art Battat. In addition to supporting arts and culture, this initiative will play a crucial role in reducing our environmental footprint through the use of eco-responsible materials.”

The Honourable Mélanie Joly, Minister of Foreign Affairs and Member of Parliament for Ahuntsic-Cartierville, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

“Another example of the immense potential of Quebec lumber! More wood in construction means more beauty for our cities and, above all, more eco-friendly and sustainable buildings. We are proud to support developers who promote the use of wood in construction. In doing so, we recognize the essential role that the forestry sector plays in the decarbonization of our economy. Congratulations to the Battat Art Center for their vision!”

Maïté Blanchette Vézina, Minister of Natural Resources and Forests and Minister responsible for the Bas-Saint-Laurent and Gaspésie–Îles-de-la-Madeleine regions.

“The Battat Art Center (CAB) is an example of the transformation of the Central District, a vibrant neighborhood in Ahuntsic-Cartierville that offers redevelopment opportunities for new industries in technology, culture, design, and urban manufacturing. The CAB is a pioneer of urban redevelopment that aligns with our vision for the future of Montreal. The CAB’s program of artistic creation and public presentation is poised to undoubtedly become a model of renewal for our borough.”

Émilie Thuillier, Borough Mayor Ahuntsic-Cartierville

“We wish to create a space for creation and dissemination that supports contemporary artists. We also want to provide a living environment with open, welcoming, and warm public spaces where the entire neighborhood can come together and connect. It is important for us to respect the heritage of our building by preserving its structure and reclaiming its materials, while also transforming it to incorporate green spaces and a café. We envision welcoming school and community groups, giving them close access to the arts and artists.”

Anne-Marie Barnard, Executive Director, Battat Art Centre

Quick Facts

The federal government is investing $10,227,308 in this project through the Green and Inclusive Community Buildings (GICB) program.The GICB program was created in support of Canada’s Strengthened Climate Plan: A Healthy Environment and a Healthy Economy. It is supporting the Plan’s first pillar by reducing greenhouse gas emissions, increasing energy efficiency, and helping develop higher resilience to climate change.The program is providing $1.5 billion over five years towards green and accessible retrofits, repairs or upgrades.At least 10% of funding is allocated to projects serving First Nations, Inuit, and Métis communities, including Indigenous populations in urban centres.The application period for the Green and Inclusive Community Buildings program is now closed.Launched in 2021, le Programme d’innovation en construction bois (PICB) of the Government of Quebec has already funded 31 innovative projects as of March 31, 2024.The PICB is part of Objective 10 of the Policy for the Integration of Wood in Construction, and its funding comes from the Quebec Government’s 2030 Green Economy Plan.

About the Battat Art Center (CAB)

The CAB is a nonprofit multidisciplinary creation and dissemination space that gives artists the freedom to experiment without external constraints or expectations. The center stands out from the expected contemporary art trajectory by prioritizing the artist and their process over the final product.

Housed in a former stone masonry building located in the heart of Ahuntsic-Cartierville in Montreal, the CAB is one of the first significant artistic pillars in the community. The project aims to symbolize cultural renewal by offering artist studios, exhibition and performance spaces, places for exchange, green areas, and a café. It also provides a unique artistic and community program for this neighborhood, which is undergoing an identity transformation. By valuing collaboration among creators and supporting access to art, the CAB aims to establish an ideal environment for creation—an inclusive and participatory space for both artists and the community.

The CAB intentionally embraces the imprint of accumulated layers from past industrial activity and ongoing and future artistic endeavors. With a vision of sustainable, carbon-neutral architecture, the center is an open space where heritage, the public, and new creation come together to give rise to a refreshing artistic momentum in Montreal with international reach.

Associated Links

Green and Inclusive Community Buildings
https://www.infrastructure.gc.ca/gicb-bcvi/index-eng.html

Strengthened Climate Plan
https://www.canada.ca/en/services/environment/weather/climatechange/climate-plan/climate-plan-overview.html

Federal infrastructure investments in Quebec
https://www.infrastructure.gc.ca/plan/prog-proj-qc-eng.html

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Web: Housing, Infrastructure and Communities Canada

SOURCE Department of Housing, Infrastructure and Communities

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