B2B Edtech Startup Classplus raises $65 million in Series C round led by Tiger Global & Others
Classplus, a B2B edtech startup, announced a $65 million in Series C round led by Tiger Global. GSV Ventures, an edtech-focused fund, joined existing investors Alpha Wave Incubation (AWI), Blume Ventures, and RTP Global in the round.
This is the company's fourth round of funding in the last 15 months. Classplus has also received early support from Sequoia Capital's Surge and Times Internet.
Classplus, founded in 2018 by Mukul Rustagi and Bhaswat Agarwal, is a mobile-first SaaS platform that enables private coaching institutes and their tutors to streamline content distribution, payments, communication, and online assessments through an app.
The Shopify-like solution also assists educators in delivering live lessons, automating daily tasks, running student engagement programmes, and creating and marketing online courses. All of this enables educators to devote more time to creating high-quality content while also establishing a long-term business for themselves.
“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. With Classplus, educators have been able to build and expand their online presence, and monetise their content without any major investment and effort”, stated Mukul Rustagi, CEO and Co-Founder, Classplus.
"With this growth financing, we aim to build the best-in-class products for educators, build great engineering teams, and grow geographically. We are hiring aggressively across engineering, product, and business roles”, added Mukul.
With over 80% of the user base coming from Tier-II India, the startup claims that educators' overall profitability increases by 2x to 3x within six months of joining the platform.
“When lockdowns struck India, Classplus emerged as the critical infrastructure software for the $30 billion 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 localised education”, commented Deborah Quazzo, Managing Partner, GSV Ventures.
This is the company's fourth round of funding in the last 15 months. Classplus has also received early support from Sequoia Capital's Surge and Times Internet.
Classplus, founded in 2018 by Mukul Rustagi and Bhaswat Agarwal, is a mobile-first SaaS platform that enables private coaching institutes and their tutors to streamline content distribution, payments, communication, and online assessments through an app.
The Shopify-like solution also assists educators in delivering live lessons, automating daily tasks, running student engagement programmes, and creating and marketing online courses. All of this enables educators to devote more time to creating high-quality content while also establishing a long-term business for themselves.
“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. With Classplus, educators have been able to build and expand their online presence, and monetise their content without any major investment and effort”, stated Mukul Rustagi, CEO and Co-Founder, Classplus.
"With this growth financing, we aim to build the best-in-class products for educators, build great engineering teams, and grow geographically. We are hiring aggressively across engineering, product, and business roles”, added Mukul.
With over 80% of the user base coming from Tier-II India, the startup claims that educators' overall profitability increases by 2x to 3x within six months of joining the platform.
“When lockdowns struck India, Classplus emerged as the critical infrastructure software for the $30 billion 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 localised education”, commented Deborah Quazzo, Managing Partner, GSV Ventures.
.jpg "Caim By Arelang: India's First CandyCeuticals Company Offering Nutraceuticals in Irresistibly Tasty Treats")
