Edtech startup Classplus has bagged $70 million in a Series D round co-led by Alpha Wave Global & Tiger Global, just 8 months after the startup raised $65 million series C funding in June 2021.
The funding round also includes Abu Dhabi based Chimera Ventures & RTP Global. With the additional funding, Classplus’s value has risen close to $600 Mn in capital.
Navroz D. Udwadia, Co-Founder, Alpha Wave Global, said that Classplus has established itself as a market leader over the last few years 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,” he added.
The noida based start-up was founded in 2018 by Mukul Rustagi and Bhaswat Agarwal as a mobile-first SaaS platform that allows educators and content creators to build their online presence, digitise their offline tuition centres 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 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 ”, said Mukul Rustagi, CEO and Co-Founder, Classplus.