23 January 2017, India:
Math learning startup Cuemath has raised $15 million in series B funding from CapitalG and Sequoia India as per the report by Business Standard.
Cuemath is an after-school math excellence program for children in KG to grade 8 and is offered through home-based centers. Founded in 2013, it has over 2,000 centers educating more than 10,000 students across the country.
“Schools, by design, cater to only a limited subset of math. Although many of them do a good job at it, our children need much more. Through its multi-format tech-enabled learning system, Cuemath ensures that children not only master math but also fall in love with it.” said Cuemath’s founder Manan Khurma in a statement.
“We believe technology can help solve the strong desire and need for quality education. And Cuemath has scaled with great unit economics and capital efficiency,” CapitalG Head of India Investments Kaushik Anand said.
“Manan and the team have spent years perfecting a new way of teaching math to young children and delivering it through a unique partner model, and this round of funding gives them the ability to expand the business dramatically,” Abheek Anand, Principal, Sequoia Capital India Advisors, said.
Previously, the company had raised $4 million from Sequoia India and Unitus Seed Fund in June 2016. The company is also backed by Alok Mittal, former managing director of Canaan Partners as per The Mint report.