Classplus a B2B EdTech startup has obtained around $65 million in its Series C round led by Tiger Global. GSV ventures, Falcon Edge’s AWI, Blume Venture and RTP Global are among others who took part in the round.
Series C is the fourth round of funding put up by the Noida-based company in the past 15 months. In its previous round the company received investments from Sequoia Capital’s Surge, Times Internet and BCCI President Sourav Ganguly.
Earlier it was reported by ‘Entrackr’ that Tiger Global and GSV Ventures are likely to invest in the Series C round in the month of June and April respectively.
Sources familiar with the developments estimated the company’s valuation in the range of $200 million. ‘Fintrackr’s’ estimated its valuation around $140 million when it raised the first tranche of the Series C round led by GSV Ventures. However, the company did not reveal its valuation.
The Company was founded by Mukul Rustagi and Bhaswat Agarwal in the year 2018. Classplus enables tutors to carry forward their coaching, communication, assessments, payments and student engagement programmes through the full stack mobile solution. It also facilitates the educators to sell their online courses to expand their business across the country.
In its fresh progress, the company will look forward to increase hiring across engineering, operations, and business development along with its expansion. Classplus asserted that since its launch it have witnessed around 1 lakh tutors across 1500 cities and provided its services to almost 20 million students. The company disclosed that 80 per cent of its user base belongs to tier II and tier III cities.
Tiger Global have invested for the 11th time in a Sequoia backed startup in the year 2021. The New York based fund has Co-led a $25 million round in fintech startup Progcap earlier in this week. The investments involves Kutumb, Apna, Moglix, Groww, CRED, Innovaccer, GoMechanic, Plum and Coinswitch Kuber.