Founded in NCR in 2018, Edtech revolutionizers, Classplus has received a massive funding $70 million USD, in their latest round of series D funding. Classplus works by providing a platform for teachers, professors, educators to create their very one online classes and courses and upload them on their platform.
This is their second round of funding in under a year, recently receiving $65 million USD in June of 2021.
After their recent funding, the company is now valued at around $600 million USD which is two times larger than the valuation they received just eight months prior.
Venture capital company, Chimera Ventures, based out in the United Arab Emirates, joined an already strong group of financers of Classplus which includes RTP Global which also contributed to the latest round showing full support to the already promising start-up.
Classplus, in a nutshell is a mobile SaaS platform that enables everyone in the education and content creation industry to set up their online presence. This even allows private teachers to take their tuition classes online.
Even though the platform has been successful among educators, from the kindergarten age all the way to grade 12, even content creators for non-academic subjects have taken to the app well. Fitness and lifestyle, yoga, arts and crafts, cooking are just a few areas in which there are scores of different courses to choose from.
After the successful funding round, the CEO of the start-up, Mr. Mukul Rastagi said that the company has had a long journey even after reaching the summit of their industry fours ago. The people too have been part of their journey and the main reason for their success so far is due to their unwavering commitment to their work and their shared goals and beliefs. They even thanked all investors, educators and well wishers for their support and belief they have on their application.
When asked about what they plan to do with their new investments, Mr. Mukul said that they plan to improve their product heavily and also start expanding globally. The company really believes that they can revolutionize the online education industry and not only cause an impact in the world but also enable subject experts to impact their students.
The firm also plans to invest in other companies in terms of acquisitions and even select the right partners that will bring the very best out of both of them.