Classplus, that helps educators and content creators launch and scale their online coaching businesses, on Tuesday announced that it has raised $70 million in a Series D round to accelerate its global expansion plans.
The new funding round values Classplus, a B2B edtech startup close to $600 million, scoring a 2X jump in the valuation from the previous round.
Furthermore, Abu Dhabi based Chimera Ventures has onboarded as a new investor while existing investor, RTP Global, has doubled down on their investment in the NCR-headquartered company.
Founded in 2018 by Mukul Rustagi and Bhaswat Agarwal, Classplus is a mobile-first SaaS platform that allows educators and content creators to build their online presence, digitise their offline tuition centres and sell their courses online.
The startup claims to have seen massive adoption from not just academic educators from K-12 and exam prep categories but also non-academic content creators from categories like fitness & lifestyle, personal finance, language training and programming amongst others.
Mukul Rustagi, CEO and Co-founder, Classplus stated, “We’ve come a long way to become the category leaders since we started back in 2018. But one thing that hasn’t changed in the last 4 years is our commitment towards changing the lives of millions of educators and their student base through technology. We’re fortunate and humbled to have the trust and blessings of thousands of educators, our teammates and our investors along the way. We invite everyone who feels the same to come and be a part of this amazing clan.”
Classplus to chalks out new global growth plans
“We’ll be deploying the freshly infused funds to take our product up by notches and expand our presence globally. Going forward, we’ll also be investing in new acquisitions and partnerships that will enable us to continue delivering best-in-class experience to the educators and helping them create an impact in the education system by building bigger and stronger businesses.” Mukul added.
The funding series was co-led by Alpha Wave Global and Tiger Global Management. This new round of growth capital follows the startups’ $65 million Series C round eight months ago in June 2021.
