ED-TECH STARTUP, CLASSPLUS RAISES $ 65M FROM TIGER GLOBAL & GSV VENTURES IN ITS SERIES C ROUND2 years ago Rituka M
Classplus, India’s leading ed-tech platform has raised $65 million in its Series C round led by Tiger Global, GSV Ventures, with participation from existing investors Alpha Wave Incubation, Blume Ventures, and RTP Global. Founded by Mukul Rustagi and Bhaswat Agarwal in 2018, this is the fourth round of funding raised by the company in the last 15 months. Counting marquee investors such as Sequoia Capital’s Surge & Times Internet, the latest round of funding strengthens the Noida-based startup’s leadership in the ed-tech industry.
“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 neighborhoods. With Classplus, educators have been able to build and expand their online presence, and monetize their content without any major investment and effort.” said Rustagi, CEO, Classplus. With the increased adoption of digital learning applications, Classplus, which is described as Shopify for coaching centers has catered to & digitized over 1 lakh educators across 1500 cities serving 20 million students, who are predominantly from Tier II & III cities. “When lockdowns struck India, Classplus emerged as the critical infrastructure software for the $30bn offline tutoring industry. With the platform growing nearly 10x in the last 12 months, GSV views it as a ‘Weapon of Mass Instruction.’ Co-founders Mukul and Bhaswat are empowering tutors in India to go online, enabling them to build bigger and stronger businesses while also expanding access to localized education.” said Deborah Quazzo, Managing Partner at GSV Ventures, in a statement.
Tiger Global, a New York-based investment firm has been aggressively investing in Indian Startups and this investment counts as the 11th funding to be made in a Sequoia-backed startup in 2021. The firm has invested in Kutumb, Apna, Moglix, Groww, CRED, Innovaccer, GoMechanic, Plum, Progcap, and Coinswitch Kuber, out of which 6 have already attained the status of a Unicorn.
Read more about the offerings of Classplus and the efforts made by them to digitize education in India : CLASSPLUS- CREATING A SEPARATE CLASS FOR TUTORING ACROSS INDIA – Start-Up Hyderabad (startuphyderabad.com)