Toddle, an Edtech SaaS (Software as a Service) Startup, is in talks with both new and existing investors to secure a new fundraising round of between $15–18 million.

Beenext, Better Capital, Matrix Partners (formerly Z47), Trifecta Capital, and Tenacity Ventures joined Peak XV in leading a $17 million Series A financing in Toddle in January 2023.

According to a source who asked not to be named since the discussions are confidential, "GSV Ventures is likely to co-lead the new fundraising, with heavy participation from existing investors." "It is expected that a US micro VC will also take part."

In the past, GSV Ventures has supported edtech companies like Classplus, AdmitKard, Coursera, PhysicsWallah, and Brightchamps. Notably, Classplus, a direct rival of Toddle, is also owned by Peak XV and Matrix (via Testbook). Other well-known companies in the edtech SaaS market include Teachmint and Graphy from Unacademy.

A teaching and learning platform utilized by independent schools delivering IB (International Baccalaureate) and other progressive curriculum is Toddle's initial product. The company was founded in 2019 by Deepanshu Arora, Gautam Arora, Misbah Jafary, Nikhil Poonawala, and Parita Parekh.

According to Toddle's website, more than 2,000 schools in more than 100 countries, including the US, UK, Australia, China, and the UAE, presently use the platform, including both free and paid users.

According to sources, Toddle's post-money value will be approximately $100 million. Through three funding rounds, it has raised $20 million so far.

While GSV and Z47 did not respond to inquiries, Toddle and Peak XV declined to comment on the story.

Toddle's operating revenue increased 72% to Rs 32.35 crore during the fiscal year that ended in March 2023, but its losses also increased, rising from Rs 19.45 crore to Rs 40.7 crore. The business has not yet submitted its FY24 results.

With a few big acquisitions, edtech businesses are slowly but noticeably making a resurgence after a steep drop in financing. Eruditus and upGrad raised $150 million and $60 million, respectively, after PhysicsWallah just raised $210 million. The list also includes the $27 million secondary funding from K12 Techno, the $35 million loan from upGrad, the $20 million equity from Educational Initiatives (Ei), the $17 million from Planetspark, and the $16.5 million Series B capital from Bhanzu.