An India-based startup that built a Shopify A similar platform for coaching centers to digitally accept student fees and provide classes and study materials online has been nodded – and capitalized – by a number of high-profile investors.
The business-to-business startup called Classplus announced on Monday that it raised $ 9 million in its Series A financing round, led by RTP Global, a prolific early stage start-up investor. Existing investors such as Blume Ventures, Sequoia Capital India & # 39; s Surge, Spiral Ventures and Strive also participated in the round, said the two and a half year old startup.
With dozens of companies betting that hundreds of millions of students – and their parents – use digital learning apps, Classplus, also supported by Times Internet, believes tens of thousands of teachers and coaching centers that have earned a reputation in their neighborhood stay here
“We serve these hyperlocal tutoring centers, which are available in almost every nook and corner of India. Anyone who was born into a middle-class family has probably attended these lessons, ”said Mukul Rustagi, co-founder and CEO of Classplus, in an interview with theinformationsuperhighway.
“These are usually small and medium-sized setups that are done by teachers themselves. These teachers and coaching centers are very popular in their region. They rarely do marketing and the students get to know them through word of mouth, ”he said.
Rustagi described Classplus as "Shopify for coaching centers". Like Shopify, the service does not serve as a marketplace that can be found by these teachers or coaching centers. Instead, it gives these teachers the opportunity to use their technology platform to connect with customers (in this case, students).
Classplus has integrated more than 3,500 coaching centers on its platform, said Rustagi, more than 500 of whom took up service in April after Prime Minister Narendra Modi's government ordered that schools and other public gatherings be closed to do so do contain the spread of coronavirus disease.
Coaching centers use Classplus to communicate digitally with students, provide video courses and other learning materials, and accept payments. These coaching centers can get in touch with their students via the Classplus mobile app and website. “Joining the platform is as easy as signing up for a team collaboration app. The whole process takes less than 30 minutes, ”said Rustagi.
“According to the Varkey Foundation's Global Teacher Status Index in 2018, India was among the top 10 in the world when it came to respecting teachers, although it was in the top 10 when it came to paying them. Classplus eliminates this imbalance by equipping tutors with mobile full-stack solutions while maintaining and further improving the tutors' high reputation. We are pleased to support the company on this important mission and to have Classplus as our first Edutech bet in India, ”said Kirill Kozhevnikov, partner at RTP Global, in a statement.
The startup, which employs around 200 people, aims to bring 10,000 coaching centers to its platform by the end of the year. The company currently has a sales team and other members in around 70 cities in India. Classplus also plans to introduce additional functions for coaching centers on its platform.