Classplus Raises USD 65 million Fund from Tiger Global, GSV Ventures, AWI

Indian edtech, Classplus has raised USD 65 million in a series c round led by Tiger Global. GSV Ventures, coupled with existing investors Alpha Wave Incubation (AWI), which is backed up by DisruptAD and managed by Falcon Edge, Blume Ventures, and RTP also participated in the series c round. As per the sources, the round includes both primary and secondary transactions. As per the sources, Tiger Global is in talks to lead a USD 30 million investment in Classplus, an Indian edtech startup. The new round, which includes both primary investment and secondary transactions, values the Indian edtech startup at over USD 250 million. The new round adds to another nearly USD30 million investment that was led by GSV. The new round hasn’t closed, so terms may change.

Classplus has built a Shopify-like coaching platform for coaching centers to accept fees digitally from students and deliver class and study material online. It has also raised USD 10.3 million in September 2020 from Falcon Edge’s AWI, cricketer Sourav Ganguly and existing investors RTP Global and Blume Ventures. The round had valued Classplus at nearly USD 73 million.

The startup is serving the hyperlocal tuition centers that are available in every nook and cranny in India. These are typically small and medium setups that are run by teachers themselves. These teachers and coaching centers are very popular in their locality. They rarely do any marketing and students learn about them through word-of-mouth buzz.