Edtech startup Classplus raises $65 million led by Tiger Global to bring more tutors online
- This is the fourth round of funding raised by the Delhi NCR-based startup in the last 15 months.
Classpluswas founded in 2018 and helps tutors take their traditional classes online.
- It has close to 100,000 tutors on its platform, teaching 20 million students across 1,500 cities in
GSV Ventures, along with existing investors Alpha Wave Incubation (AWI), Blume Ventures and RTP Global also participated in the Series C round. Overall, Classplus has raised over $85 million in funding to date, from investors like Sequoia Capital’s accelerator programme Surge, Times Internet and former cricketer
Classplus offers a mobile-first software that allows coaching institutes, tuition centres and private tutors to take their traditionally offline classes online. The company claims to serve a user base of 20 million students and 100,000 tutors across 1,500 cities in India. About 80% of the educators on the platform are from Tier-2 and beyond regions.
Advertisement“A typical educator is able to grow its student base from 100 to 1200 students within 8-10 months of using Classplus. The platform has seen massive success stories of educators generating 5x [five times] of their usual incomes within a year of starting up,” the company claimed in its press note.
It also claims to help tutors increase their profitability by 2 times to 3 times within 6 months of using the platform. The company’s software solutions allow tutors to run their coaching, communication, assessments, payments, and student engagement programmes through their mobile solutions.
Classplus was founded in 2018 by Mukul Rustagi and Bhaswat Agarwal. The company’s chief executive (CEO) and cofounder Rustagi said, “We are on a mission to ensure that every educator can go online and connect with their students across the world. The power of educators has historically been confined to their local neighbourhoods.”
The company intends to use their capital raise to build on their product capabilities, grow geographically and expand their engineering team. The company will be hiring aggressively across engineering, product and business roles.
Classplus competes with Bengaluru-based edtech startup Teachmint, which also enables teachers to conduct online classes through two-way interactive learning solutions with video sharing and more. The platform was founded in 2020 and has raised $20 million to date from marquee investors like Better Capital, Lightspeed India Partners, Learn Capital and more.
Personal investment platform Upside AI raises $1.2 million in seed funding to help Indians make money
AdvertisementJames Murdoch plans to raise $150 million from ultra rich to invest in Indian startups
Sharechat employees will make $19 million out of the latest ESOP plan, as growth spikes in the absence of TikTok
Popular on BI
- Elon Musk sparks another Shiba Inu rally ‘to the moon’ — other Shiba coins follow suit
- Elon Musk’s puppy, a new strategy to burn tokens, and altcoins playing catch up — the perfect storm for cryptocurrency Shiba Inu to skyrocket
- Apple M1 Pro and M1 Max vs M1: Here’s what Apple improved with its new custom chips
- Best gaming mouse for battle royale games in India
- Best tablets for professional use in India
- Ethereum may offer the best returns, but investors have been pulling away over the last two weeks
- Google starts starts testing new safety section for apps, feature to go live in February 2022
- Horlicks and Boost maker HUL sees slowdown in food segment in the last three months