At a time when many edtech companies in India are trying to reduce their reliance on teachers, a Noida-based startup that helps educators and creators manage and sell courses to students has ushered in a new era. . This ClassPlus startup is now valued at $570 million.
Alpha Wave Global and Tiger Global jointly led the ClassPlus Series D round, according to the four-year-old startup. The round also included Abu Dhabi-based Chimera Ventures and RTP Global, following the startup’s $65 million Series C funding received eight months back. The statement said the new round more than doubled the startup’s valuation.
Millions of teachers in India teach students in small Indian towns and villages. In their environment, they are one of the most popular people students want to learn from. His offline coaching continues to flourish.
But traditionally these teachers go out of their way to reach students who live just a few miles away. With the advent of smartphones and cheap mobile data, some teachers have begun experimenting with tools ranging from spreadsheet processors to YouTube, Zoom, SurveyMonkey and Instamojo to record, stream and monetize their lessons. But the experience of using so many devices is confusing and unsightly.
That’s where ClassPlus comes to the rescue.
“We enable these teachers and smaller institutions to stream, deliver, sell and manage their lessons online with just one platform,” he said. Mukul RustagiCo-founder and CEO of ClassPlus in an interview with gaming-updates.
“The platform was launched in 2019 when teachers could use it to become a brand, run a business and make more money. They were able to reach more students than ever before without affecting their offline business,” he said.
Things changed for the better for ClassPlus during the second wave of the pandemic, Rustagi said, when creators, artists, fitness and lifestyle experts and others discovered and used the platform to sell their courses to their audience.
“We now have both academic and non-academic teachers on the platform,” he said.
The startup, which created and developed its own tools, says that on the platform, teachers also receive instant feedback from their students. They get access to analytics that shows how many students attended their classes and how they performed.
The funny thing is that this platform also allows them to create teasers of their classes. “We launched the platform with local needs in mind. Just like you have trailers for movies and shows, these teacher lessons also have teasers. ,
ClassPlus, of which Bloom Ventures and GSV Ventures are early supporters, has brought together over 100,000 educators and artists from over 3,000 cities in India. More than three-quarters of producers live outside India’s urban areas. The startup said these customers could double to triple their profits within six months of switching to the ClassPlus platform.
Navroz D. Udvadia, co-founder of Alpha Wave Global (formerly known as Falcon Edge), said: “In recent years, ClassPlus has established itself as an industry leader with strong leadership. goods.” Capital).
“We are pleased that the company is able to successfully serve the large offline teacher market in segments such as K-12, Test Prep, etc. We are also seeing significant improvements in the end teacher economy as a result of using ClassPlus, leading to top revenue trends. and retention. That’s why we’re honored to double our investment in ClassPlus in this round.”
The new company plans to use the new funds to expand into small Indian towns and villages and expand its product range to further meet the needs of teachers and manufacturers. ClassPlus is also expanding into select international markets including Singapore, Vietnam and Malaysia.
“Going forward, we will also invest in new acquisitions and partnerships that will enable us to continue to provide teachers with a best-in-class experience and help them make an impact in the education system, building bigger and stronger companies in the future. Construction.” Rustagi added.