Classplus, an India-based mobile platform that enables tutors to bring offline institutions online, has raised US$ 65 million in a Series C investment round led by Tiger Global on 24 June 2021.
Investors: Besides Tiger Global, the funding round also featured GSV Ventures, along with existing investors Alpha Wave Incubation (AWI), Blume Ventures, and RTP Global as active participants. The company has raised US$ 89.5 million in total to date. Some early investors of Classplus include Sequoia Capital’s Surge and Times Internet. Sourav Ganguly, President of BCCI, has previously funded the organization and also acts as the company’s brand ambassador.
Purpose of the funding: The company plans to deploy the funds to expand geographically, build advanced products for educators, grow its engineering team and hire new talent.
About Classplus
Established by Mukul Rustagi and Bhaswat Agarwal in 2018, Classplus has digitized more than one hundred thousand teachers across 1,500 towns catering to around two crore students. The SaaS platform allows private tuition centres and tutors to streamline their video distribution, payments, communication and online assessments programmes through a single platform. Not only this, but Classplus also assists tutors to market their online courses to expand and grow. The Edtech domain has witnessed robust growth, with the COVID-19 pandemic acting as a turning phase.
What the Founder has to say: “We have an aim to equip each tutor to connect online with students all over the world. Past evidence suggests that the power of tutors has been restricted to their localities. Classplus has helped educators grow and increase their online presence and earn revenue from their service without additional financing or struggle. We are lucky to collaborate with marquee investors who support and cater to the financial needs of the global edtech industry from a tutor’s point of view. With this expansive fundraising, we seek to create high-end, quality products for tutors, form professional engineering groups, and expand in other markets. We are recruiting assertively to find the right personnel across engineering, product, and business roles.”- Mukul Rustagi, CEO and Co-founder of Classplus.
What the Investors have to say: “When the pandemic-induced lockdown shut the Indian market, Classplus unfolded as vital infrastructure technology for the US$ 30 billion offline teaching domain. Witnessing roughly ten times growth in the past 12 months, GSV sees Classplus as a weapon of mass instruction.” Deborah Quazzo, Managing Partner at GSV Ventures.
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