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[Funding alert] Edtech startup Classplus raises $70mn from Tiger Global & Alpha Wave Global

Edtech startup Classplus
Edtech startup Classplus

Classplus, a B2B edtech startup has raised $70 million in a Series D round from Alpha Wave Global and Tiger Global Management.

Last year in June, the startup raised $65 million in Series C round.

With this fundraising, the startup is now valued at close to $600 million, more than double the valuation of the previous round.

As new investors, Abu Dhabi-based Chimera Ventures and existing investor RTP Global also participated in the round.

Noida-based B2B edtech startup was founded in 2018 by Mukul Rustagi and Bhaswat Agarwal, It is a mobile-first SaaS platform that allows teachers and content creators to build their online presence, digitize their offline learning centers and sell their courses online.

“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 4 years is our commitment to 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”, said, Mukul Rustagi, CEO and Co-founder, Classplus.

“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,” he added.

The startup claims to have seen massive adoption not only from academic teachers across the K-12 and exam preparation categories but also from non-academic content creators from categories such as fitness and lifestyle, personal finance, language training, and programming.

Navroz D. Udwadia, Co-Founder, Alpha Wave, said, “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 large 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 sector leading monetization and retention trends. It is therefore our privilege to double down on Classplus with our investment in this round.”

More than 75% of the educators on the ClassPlus platform come from Tier 2 India.

More than 100,000 teachers and content creators from 3000+ towns and cities have used their platform.

The startup claims that most of its teachers have seen a 2-3x increase in profits within six months of adopting the platform. Recently, ClassPlus announced expansion into Southeast Asian markets including Singapore, Vietnam, and Malaysia.

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