NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Prabhjeet Bhatla

Market-leading professional networking and jobs platform for India’s rising working-class Apna on Wednesday informed to have raised a $70 million Series B round led by Insight Partners and Tiger Global. Existing investors, Sequoia Capital India, Lightspeed India, Greenoaks Capital, and Rocketship VC have also participated in the round. The investment amounts to an endorsement of Apna’s undisputed market leadership and stellar business growth. With this investment, Apna has now raised over $90 million and is now valued at $570 million, within 16 months of product launch.

Apna will use the proceeds to strengthen its presence in existing cities and expand pan-India over the next 6 months to help restart India’s economy as it recovers from the COVID-19 pandemic. The team plans to double down on their edtech platform for skilling by continuing to invest in hiring exceptional talent and building world-class engineering and product capabilities. Additionally, Apna plans to expand to high potential international markets such as Southeast Asia and the United States in the coming year.