Bengaluru: Business-to-business (B2B) edtech startup Classplus has raised $9 million in a Series A funding round, led by early stage tech investor RTP Global. Existing buyers together with Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures and Strive additionally participated in the round.
The Noida-headquartered firm allows offline teaching institutes to take their companies on-line. Classplus mentioned that it’s going to use the funds to enhance its expertise and broaden its product choices. Classplus is increasing its product, engineering and enterprise groups, and likewise working with content material publishers to determine simpler entry to on-line assessments.
Over 3,500 teaching centres throughout 70 cities and cities in India use the platform, it mentioned. Classplus was launched in 2018 by Mukul Rustagi and Bhaswat Agarwal.
“We are the category leaders in the segment, and the new fund raise will help us to serve more teachers with a world-class product experience. India is home to the largest after-school tuition market in the world and delivery models keep evolving as we speak. As national examinations move online, so must after-school tuition practices, and this new round of capital is a testament to Classplus’ ability to digitise the ecosystem,” mentioned Rustagi, co-founder and CEO of Classplus.
Kirill Kozhevnikov, Partner at RTP Global, mentioned, “According to the Global Teacher Status Index by the Varkey foundation in 2018, India was among the top-10 in the world in respecting teachers, though was in the last-10 in paying them. Classplus is liquidating this imbalance by empowering tutors with full-stack mobile solutions, while maintaining and further improving the high reputation of tutors.”