Noida, India-based edtech startup Classplus raised USD 70 million in Series D funding on March 29, 2022. Bunch Microtechnologies Pvt Ltd operates Classplus. Tiger Global Management and Alpha Wave Global co-led the Series D round of financing.
The round also saw participation from Abu Dhabi-based Chimera Ventures, with existing investor RTP Global.
Classplus is now India’s highest-valued edtech firm with the latest funding outside of the unicorn club. The recent financing brought Classplus valuation to close to USD 600 million.
Purpose of Funding for Classplus
The startup plans to use the fresh capital to strengthen its product and expand its presence globally. Additionally, the company recently announced its expansion in South-East Asian markets, including Singapore, Vietnam and Malaysia.
The company will also seek new acquisitions and partnerships.
Previously, Classplus raised $65 million in a Series C round in June 2021. Since its inception, Classplus has raised $160 million. It counts names such as Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures, Strive, and Times Internet among its investors.
What the founder has to say
Mukul Rustagi, CEO and Co-founder of Classplus, said, “We’ve come a long way to become the category leaders since we started back in 2018. But one thing that hasn’t changed in the last four years is our commitment towards changing the lives of millions of educators and their student base through technology. We’re fortunate and humbled to have the trust and blessings of thousands of educators, our teammates and our investors along the way. We invite everyone who feels the same to come and be a part of this amazing clan.”
“We’ll be deploying the freshly infused funds to take our product up by notches and expand our presence globally. Going forward, we’ll also be investing in new acquisitions and partnerships that will enable us to continue delivering a best-in-class experience to the educators and helping them create an impact in the education system by building bigger and stronger businesses,” Rustagi further added.
What the investor has to say
“Over the last few years, Classplus has established itself as a market leader and has created a highly differentiated and sophisticated technology product while building a robust management team. We like that the company can successfully cater to the sizeable offline market of educators across segments such as K-12, test prep etc. We also see a significant improvement in end tutor economics as a result of using Classplus – this results in the sector leading monetization and retention trends. It is, therefore, our privilege to double down on Classplus with our investment in this round, “said Navroz D. Udwadia, Co-Founder of Alpha Wave.
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