Classplus, an ed-tech business, helps educators and content producers build online courses. The firm has secured $70 million in a new round of investment led by Alpha Wave Global and Tiger Global. Classplus will be worth more than $600 million after the most recent fundraising round.
The latest round of funding for expansion arrives just eight months after the business received $65 million in June of last year.
Chimera Ventures, located in Abu Dhabi, has joined the new round as a new investor. RTP Global, which already had a stake in the company, has doubled down and joined the investment.
Founded in 2018 by Mukul Rustagi and Bhaswat Agarwal, Classplus is a software tool that allows educators and content providers to have an online presence and offer their courses online. It is a mobile-first software-as–a-service (SaaS) platform.
Educators in the kindergarten to grade 12 (K-12) and test preparation categories, according to the firm, have adopted the program. Classplus has also attracted non-academic content providers from industries such as health, leisure, personal finance, language instruction, and programming, according to the business.
Navroz Udwadia, the cofounder of Alpha Wave, stated, “We feel that the firm (Classplus) can effectively serve the enormous offline market of educators across categories such as K-12, test prep, and others.”
75% of Classplus’s instructor base hails currently from Tier 2 Indian cities and beyond, according to the company. More than 100,000 educators and content producers from over 3,000 villages and Indian cities get served by it.
Recently, the firm revealed plans to expand into Southeast Asian markets such as Singapore, Vietnam, and Malaysia.
Classplus has garnered $160 million in funding since its launch, with investors including Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures, Strive, and Times Internet. Times Internet is a subsidiary of the Times Group, which also publishes The Economic Times.
What Value does Classplus offer to Education?
Classplus distinguishes itself by serving not just the B2B market as a coaching management software but also as an online learning platform for the B2C market. A digital distribution platform for educational content and products is also a big part of it. This means that tutors can set up e-commerce channels that also serve as their content repositories, so they can share videos with students and take online tests.
Classplus provide these instructors and small institutions the ability to stream, distribute, sell, and maintain their lessons all from one place.
According to Classplus, educators using the site also get immediate feedback from their pupils, which constructed and customized the tools in-house. They have access to data that reveals how many students showed up for their courses and how well they did.
Surprisingly, the software also enables them to create teasers for their lessons. “With local demands, they’ve ‘Indianized’ the platform.” These educators’ lessons feature teasers, much like previews in movies and shows.
The vast number of lessons offered on our platform, both academic and non-academic, are in local languages with local accents. “We discovered that learners here like to learn from individuals they can connect to,” Rustagi said.
Classplus will provide instructors with best-in-class experiences while also assisting them in making a difference in the school system by developing bigger and more powerful companies.” Rustagi added.
Published By : Revathy G Sanal
Edited By : Subbuthai Padma
