Edtech start-up Classplus raises $65 million led by Tiger Global

By: |
June 25, 2021 3:30 AM

The company plans to deploy the funds to expand geographically, build advanced products for educators, grow its engineering team and hire new talent.

“With Classplus, educators have been able to build and expand their online presence, and monetise their content without any major investment and effort,” said CEO and Co-Founder Mukul Rustagi. “With Classplus, educators have been able to build and expand their online presence, and monetise their content without any major investment and effort,” said CEO and Co-Founder Mukul Rustagi.

Classplus, an edtech start-up has raised $65 million in fresh funding led by Tiger Global. The investment which is part of the company’s series C financial round also saw participation from GSV Ventures and existing investors Alpha Wave Incubation, Blume Ventures and RTP Global.

This is the fourth round of funding raised by the company in the last 15 months, it said in a statement on Thursday. The firm’s total fund tally now stands at about $90 million. Founded by Mukul Rustagi and Bhaswat Agarwal in 2018, Classplus runs a mobile platform that enables educators to take their offline institutes online. The company that counts Sequoia Capital’s Surge and Times Internet as its early backers allows tutors to run all their coaching, communication and student engagement programmes through mobile solutions. Besides, it also allows educators to sell their online courses, thereby helping them grow their businesses beyond their areas of operation.

The company plans to deploy the funds to expand geographically, build advanced products for educators, grow its engineering team and hire new talent.

“With Classplus, educators have been able to build and expand their online presence, and monetise their content without any major investment and effort,” said CEO and Co-Founder Mukul Rustagi.

The company claims to have already digitised over one lakh tutors across 1,500 cities catering to 20 million students. Academic and non-academic content creators, specialising across subjects ranging from Maths and Astronomy to Photography have used the platform’s service. A typical educator is able to grow its student base from 100 to 1200 students within 8-10 months of using Classplus, the firm said. Over 80% of the start-up’s user base comes from tier-two cities and beyond.

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