Classplus raises $65 mn in Series C round led by Tiger Global

MUMBAI: The business-to-business startup, Classplus, on Thursday has raised $65 million in a Series C round led by Tiger Global. GSV Ventures, the EdTech focused fund, along with existing investors Alpha Wave Incubation (AWI), which is backed by DisruptAD and managed by Falcon Edge, Blume Ventures and RTP Global also participated in the round.

In May 2020, Classplus had raised $9 million in its Series A financing round led by RTP Global. Existing investors Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures, and Strive also participated in the round.

Founded by Mukul Rustagi and Bhaswat Agarwal in 2018, the new round of financing is a testimony of Classplus’ undisputed market leadership and strong growth trajectory. In the last 15 months, the company has managed to raise funds through the fourth round. Sequoia Capital’s Surge and Times Internet are also the early backers of Classplus.

“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”, said Mukul Rustagi, chief executive officer and Co-Founder, Classplus.

Coaching centres use Classplus to streamline all their communication, launch cohort-based live courses, and manage student communities via the platform. The Shopifylike solution also helps them deliver their live lessons, automate their daily tasks, run student engagement programs along with building and marketing their online courses. With over 80% of the user base coming from tier-2 India and beyond, the platform has been nothing short of a lifeline for educators throughout the pandemic.

Board of Control for Cricket in India (BCCI) president Sourav Ganguly has also invested in the company and also serves as the brand ambassador for them.

“We feel fortunate to partner with marquee investors who believe in serving the global Edtech market from an educator-first angle. With this growth financing, we aim to build the best-in-class products for educators”, added Mukul.

IN 2020, CLASSPLUS HAD RAISED $9 MILLION IN SERIES A FINANCING ROUND LED BY RTP GLOBAL