Live teaching platform Teachmint raises fresh funding of $20 million after raising over $16 million two months ago

Live teaching platform Teachmint raises fresh funding of $20 million after raising over $16 million two months ago
Founders of TeachmintBCCL
  • The edtech startup will use this funding to further develop their live teaching technology.
  • It had raised $16.5 million in its Series A round that closed in May 2021.
  • Teachmint claims to have a million teachers on its platform from over 5000 cities in India.
Live teaching platform Teachmint has raised $20 million in its pre-Series B round led by San Francisco-based Learn Capital, with participation from CM Ventures.

The edtech startup will use this funding to further develop their live teaching technology and expand into new geographies. Besides this, the company will also look into enhancement of its product and hiring talent.

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Teachmint had closed its Series A round in May 2021, with a funding of $16.5 million. The round was led by Learn Capital, with participation from CM Ventures, Lightspeed and Better Capital. Notably, the company’s claims that its valuation has jumped three times in the last two months. The edtech startup has not shared any more details about its valuation.

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Founded by Indian Institute of Technology (IIT)-Delhi and Bombay alumni Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar in 2020, Teachmint has raised about $40 million to date. The founding team has previously worked with several big brands in the digital space, including OYO, McKinsey, Swiggy and Roposo.

Teachmint enables teachers to conduct online classes through a two-way interactive learning solution that allows video sharing and more. The company also offers a tutoring management software-as-a-service (SaaS) to help teachers mark attendance, conduct tests, create virtual classrooms and more.

The edtech startup claims to have more than one million teachers on board across over 5000 Indian cities and towns. The solution is available in 10 Indian languages apart from English.

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The company's other products are focused more on individual teachers. However, it has recently launched an institutional product for schools and colleges. Teachmint for Institutes offers educational institutions a platform to monitor all online classes and institute activities including fee collections, performance assessments and storing lectures.

Teachmint’s chief executive Gupta said, “With our platform usage growing 25x [times] over the last quarter, we are becoming the default teaching application in India and the largest live teaching platform globally, outside China. Over the past 1 year, we have brought together some of the top minds in product and engineering to address the big technology-infrastructure gap in teaching and learning through our proprietary platform.”

The company competes with another edtech platform ClassPlus, which recently closed a $ 65 million round led by Tiger Global. Classplus offers a mobile-first software that allows coaching institutes, tuition centres and private tutors to take their traditionally offline classes online. It claims to serve a user base of 20 million students and 100,000 tutors across 1,500 cities in India.

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