E-commerce enabler Classplus raises $65 mn from Tiger Global, others

E-commerce enablement platform for coaching centers, solo tutors and online content creators Classplus has raised $65 million in a Series C round led by Tiger Global. GSV Ventures, along with existing investors Alpha Wave Incubation, which is backed by DisruptAD and managed by Falcon Edge, Blume Ventures and RTP Global also participated in the round. The startup has raised $90 million so far along with this round.

It will be using these funds for enhancing the present products and building new ones, expanding geographically and hiring for product and engineering roles.

Founded by Mukul Rustagi and Bhaswat Agarwal in 2018, the new round of financing is the fourth round of funding raised by the company in the last 15 months. Educators use Classplus to streamline all their communication, launch cohort-based live courses, and manage student communities via the platform. The solution also helps them deliver live lessons, automate their daily tasks, run student engagement programmes along with building and marketing their online courses. 

“We are on a mission to ensure that every educator can go online and connect with their students across the world. The power of educators has historically been confined to their local neighbourhoods. With Classplus, educators have been able to build and expand their online presence, and monetise their content without any major investment and effort,” said Rustagi, CEO and cofounder, Classplus. 

An educator is able to grow its student base from 100 to 1,200 students within 8-10 months of using Classplus, claims the company. It has digitised over 100,000 tutors across 1,500 cities serving 20 million students. 

“Mukul and Bhaswat are empowering tutors in India to go online, enabling them to build bigger and stronger businesses while also expanding access to localised education,” said Deborah Quazzo, Managing Partner, GSV Ventures.

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