During a time when many Indian edtech companies are trying to reduce their dependence on teachers, a Noida-based business that is helping teachers and course developers run, administer, and sell courses to students has secured $70 million in a fresh round of investment. Classplus, the start-up, is now worth $570 million.
Classplus, a four-year-old firm, announced that Alpha Wave Global and Tiger Global co-led its Series D financing. An additional $65 million in Series C investment for the firm was provided by Abu Dhabi-based Chimera Ventures and RTP Global. The business claimed in a statement that the fresh round of funding had more than doubled its valuation.
In India, there are millions of instructors who work in small villages and cities to educate children. They are among the most sought-after teachers in their respective communities. There is still a strong demand for their offline tutoring services.
However, in the past, instructors in this area have had difficulty connecting with children who lived only a few miles away. The rise of smartphones and inexpensive mobile connectivity has prompted some instructors to experiment with a wide range of technologies, including spreadsheet processors, YouTube, Zoom, Surveymonkey, and Instamojo, to record and broadcast their classes. Utilizing so many tools, on the other hand, might be cumbersome and complicated.
Classplus co-founder and CEO Mukul Rustagi said they enable these instructors and small institutions to livestream, distribute, sell, and administer their lessons online with just one platform.
In addition to receiving immediate feedback from their students, the business claims that instructors using its platform also receive in-house-built and customized tools. Using this data, they can see who came to their classes and how well they did.
The startup company intends to use the new funding to expand its product offerings to better meet the requirements of teachers and creators in smaller Indian cities and villages. Singapore, Vietnam, and Malaysia are just a few of the countries where Classplus is expanding.