ClassMonitor Marks Growth With A 2X Exit For Angel Investors
The startup has witnessed rapid growth and aims to garner a 1 lakh customer base by 2021
Ed-tech startup ClassMonitor has been consistently witnessing growth as they provided a 2x exit to the early-stage investors within 2 years. Existing investors which include Dubai based Calega family Office have now purchased an increased holding from the startup’s other early-stage angel investors.
The startup has been tracking growth rapidly as it witnessed 20,000 customers in the last 3 months and aims to clock another 40,000 in the next 3 months to garner a total of 1 lakh customers by 2021. The startup currently has an ARR of 10 Cr and aims to tap rapid growth and reach to 20 cr in ARR by March 2022.ClassMonitor boasts a PAN India customer base of parents with children in the age group of 1-8 years with Tamil Nadu, Karnataka & Maharastra being the Top 3 states.
Currently, the startup has 95 per cent of their total users from India and 5 per cent from abroad and is aiming to increase the ratio to 90 per cent from India and 10 per cent from abroad respectively in the next 6 months. This growth trajectory is followed by the startup’s global expansion recently. Additionally, the startup expects growth in the Philippines, Australia, and the Middle East markets and aims to continue deeper penetration in Tier 1-3 markets. The company is also looking to strengthen their customer base in Uttar Pradesh, Gujarat, and Rajasthan.
ClassMonitor plans to raise a series A investment soon and to date has raised Rs 6 crores since inception in 2016. As part of the angel round, they are backed by renowned investors including Calega Family Office, Piyush Jain, Chief Financial Officer of Al Hajri group, an angel investor who has invested in over 25 start-ups across the globe, Audit Head of Fullerton India, COO of Fullerton India, CFO of Spice Money, PATH India Ltd
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