Classplus raises $70 Mn at $600 Mn valuation

B2B edtech startup Classplus has raised $70 million in its latest round of funding co-led by Alpha Wave Global and Tiger Global. Classplus’ valuation is estimated to be around $600 million.

Entrackr had exclusively reported the development recently.

As part of the latest round, Abu Dhabi-based Chimera Ventures has come in as a new investor while the existing backer, RTP Global, has doubled down and participated in the financing.

According to the edtech firm, it will deploy the fresh funds to expand its presence globally, while investing in new acquisitions and partnerships.

Founded in 2018 by Mukul Rustagi and Bhaswat Agarwal, Classplus is a software platform that allows educators and content creators to build their online presence, digitise their offline tuition centres and sell their courses online.

At present, Classplus said that 75% of its educator base comes from Tier 2 Indian cities and beyond. It serves more than 100,000 educators and content creators from over 3,000 towns and Indian cities.

Since its inception, Classplus has raised $160 million and counts Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures, Strive, and Times Internet, among others as investors.