Class plus, a Noida-based B2B ed-tech startup, has raised $70 million in a Series D fundraising round led by Tiger Global and Alpha Wave Global, valuing the company at almost $600 million. Class plus raised $65 million in June 2021, and this round of funding comes nearly eight months later.
As part of the latest cash raise, Abu Dhabi-based Chimera Ventures has joined as a new investor, while previous investor RTP Global has increased their stake in the NCR-based firm. The latest round values Class plus at close to $600 million, a more than 2X increase over the prior investment, according to the start-up.
Class plus is a mobile-first SaaS platform that helps educators and content creators to develop their online presence, digitize their offline tuition centers, and offer their courses online. It was founded in 2018 by Mukul Rustagi and Bhaswat Agarwal. It has been widely adopted by academic educators in the K-12 and exam preparation fields, as well as non-academic content developers in fields such as fitness and lifestyle, personal finance, language training, and programming, among others.
“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 of Class plus.
He went on to say that the newly invested monies will be used to expand the company’s product range and global expansion.
“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 added.
Class plus has announced plans to expand into Southeast Asian markets such as Singapore, Vietnam, and Malaysia. In January, Manish Chawla, formerly Zomato’s VP of Engineering, and Sankalp Aggarwal, formerly Gaana’s Head of Finance, were named CTO and CFO, respectively.
“Over the last few years, Class plus 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 Class plus – this results in sector-leading monetization and retention trends. It is, therefore, our privilege to double down on Class plus with our investment in this round,” said Alpha Wave co-founder Navroz D. Udwadia
