Ashwin Damera and Chaitanya Kalipatnapu started Eruditus in 2010. The company works with elite universities to deliver their executive courses online, and later grew beyond India.
Growth drew heavy capital. By 2025 Eruditus had raised more than $814 million in equity. Its Series F in October 2024 was led by TPG's Rise Fund and valued the company at about $3.1 billion. A further $150 million raise led by TPG kept the valuation at $3.1 billion.
FY22 net loss was about INR 2,645 crore, or $349 million. In FY23 revenue rose 75% and the loss was INR 1,049 crore. In FY24 revenue grew 12.4% to INR 3,733 crore.
In February 2025 Damera said Eruditus aimed to pass $1 billion in annual revenue within five years. In September 2025 the company secured a refinancing to support profitable growth.