Tiger Global leads $65 million investment in Indian edtech Classplus
Classplus said on Thursday it has raised $65 million in a Series C round led by Tiger Global. GSV Ventures, along with existing investors Alpha Wave Incubation (AWI), which is backed by DisruptAD and managed by Falcon Edge, Blume Ventures and RTP Global also participated in the round.
The round includes both primary and secondary transactions, a source familiar with the matter told TechCrunch.
“When lockdowns struck India, Classplus emerged as the critical infrastructure software for the $30bn offline tutoring industry. With the platform growing nearly 10x in the last 12 months, GSV views it as a ‘Weapon of Mass Instruction.’ Co-founders Mukul and Bhaswat are empowering tutors in India to go online, enabling them to build bigger and stronger businesses while also expanding access to localized education,” said Deborah Quazzo, Managing Partner at GSV Ventures, in a statement.