Tiger Global To Invest In Classplus For Over $250 Million Valuation

• ByStartupStory     |    June 11, 2021

Tiger International is in talks to invest $30 million in Indian edtech startup Classplus, in accordance with sources familiar with the matter. The new round which incorporates both primary funding and secondary transactions values the five-year-old Indian startup at over $250 million. However, another $30 million investment was followed in the new round led by GSV. The round hasn’t closed yet, the terms may change.

Classplus has developed Shopify as a platform to make teaching easy. Tiger international investment at Classplus is to simply accept fees from students digitally and provide study material and deliver classes online. Moreover, Last year in September it raised $10.3 million from Falcon Edge’s AWI, cricketer Sourav Ganguly and existing investors RTP Global and Blume Ventures. That round had closed at $73 million according to the research firm Tracxn. As many of the students and their parents are embracing digital learning, Classplus is betting that a whole lot of hundreds of teachers and academic centers that have gained a reputation in their neighborhoods are here to stay.

The Tiger Global investment at Classplus, Startup is serving these hyperlocal academic centers which are present nearly in every corner of the country. “Anyone who was born in a middle-class family here has likely attended these tuition classes,” Mukul Rustagi, co-founder and chief executive of Classplus, told TechCrunch last year. These coaching centers are typically small and medium setups that are established and run by the teachers themselves. However, they’re famous in their locality. These tuition centers rarely do any marketing and students learn about them through word-of-mouth buzz,” he said then.

Rustagi had described Classplus as “Shopify for coaching centers.” Like Shopify, Classplus does not serve as a marketplace that offers discoverability to these teaching staff and coaching centers. Rather offers a way for these academics to leverage its tech platform to have interaction with clients.

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