Classplus set to score $80 Mn in Series D round

• ByStartupStory     |    March 11, 2022

Classplus, a B2B edtech startup is in late-stage talks to raise $80 million in a new round co-led by existing investors. In the past two years, this is the fifth funding round for the Delhi-based venture.

Its existing backers include Sequoia Capital’s Surge, Times Internet, Blume and GSV Ventures. All their coaching, communication, assessments, payments, and student engagement programmes through a full-stack mobile solution that is enabled by Classplus to be run by the tutors.

Classplus is likely to be valued at around $500 million and the term sheet has also been signed. As compared to the previous round, this will be a 2X jump in the company’s valuation. In June 2021, it was valued at $250 million. 

Henceforth, about $90 million in total funding has been mopped up by Classplus. It had raked in a $65 Series C round led by Tiger, in June.

Classplus was founded by Mukul Rustagi and Bhaswat Agarwal. It is a mobile platform to launch their online teaching businesses for educators and content creators. Over 1 lakh tutors across 1,500 cities serving 20 million students has been claimed to have been digitised. More than 80% of its user base comes from tier II and III cities, shows the company’s website.

Classplus is set to expand in Southeast Asian markets including Singapore, Vietnam and Malaysia, besides India.

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