Hardeep Singh
Classplus funding round headed by Tiger Global to bring more tutors online
Today, Classplus the EdTech platforms are in growth due to the pandemic. Students are being taught online from online platforms. Startups like Byjus, Vedantu are on the merge of getting growth tremendously. One of these startups is Classplus.
Classplus is a SaaS platform that allows offline coaching establishments, teachers, and content providers to start an online teaching company. They think that teachers are the backbone of Indian education and that strengthening them through technology is the only way to ensure that large internet corporations cannot destroy them.
During the Covid-19 epidemic, online classes were the only option for teachers to keep their jobs and retain their pupils, and Classplus saw significant growth. It was founded in 2018 by Rustagi and Bhaswat Agarwal. Classplus was a startup in the EdTech field to uplift the teaching tier to the next level. The vision of the founders of startup was to bring online education for students with great experience.
Tiger Global leads $65 Million Series C round in Classplus
Classplus, an ed-tech startup that helps tutors go online, has received $65 million in a Series C investment round headed by Tiger Global in the United States. This is the Delhi NCR-based startup’s fourth round of investment in the previous 15 months.
The Series C investment included GSV Ventures, as well as previous investors Alpha Wave Incubation (AWI), Blume Ventures, and RTP Global. Classplus has thus far raised approximately $85 million in investment from investors such as Sequoia Capital’s Surge accelerator program, Times Internet, and former cricketer Sourav Ganguly.
Classplus is a mobile-first software that enables coaching institutes, tuition centres, and individual instructors to move their traditional offline lessons to online. The company claims to have a user base of 20 million students and 100,000 teachers spread throughout 1,500 Indian cities. Approximately 80% of the teachers on the site are from Tier 2 and above locations.
“Within 8-10 months of using Classplus, a typical educator may expand their student base from 100 to 1200 learners. In a press release, the company stated, “Within a year of starting up, the platform has experienced incredible success stories of teachers generating five times their normal revenues.”
Within 6 months of utilising the platform, it claims to assist teachers to boost their earnings by 2 to 3 times. Teachers can use the company’s software solutions to manage their coaching, communication, evaluations, payments, and student engagement programmes via mobile devices.
MukulRustagi and Bhaswat Agarwal started Classplus in 2018. “We are on a mission to guarantee that any teacher can go digital and interact with their students across the world,” said Rustagi, the company’s CEO and cofounder. Educators’ authority has traditionally been restricted to their local communities.”
The company plans to use the funds raised to improve its product capabilities, expand regionally, and hire more engineers. Across technical, product, and business jobs, the firm will be aggressively hiring.
Classplus competes with Teachmint, a Bengaluru-based ed-tech startup that allows teachers to run online classrooms using two-way eLearning solutions that include video sharing and other features. Better Capital, Lightspeed India Partners, Learn Capital, and others have invested $20 million in the platform since its inception in 2020.
Classplus will try to grow its features and provide world class platform for tutors to use and integrate with students. What are your thoughts regarding this? Do you think this EdTech startup will rise up to compete with other platforms? Comment down your thoughts.
