Tiger Global And Westbridge Capital Lead $42 Million Series C Funding Round In Vedantu
Funds will be used to build brand, scale and boost content and technology capabilities of the company in LIVE Learning.
(R-L) Vamsi Krishna, CEO & Co-founder; Anand Prakash, Co-founder; and Pulkit Jain, Co-founder and Head Product.
Vedantu has raised $42 Million in a Series C funding round led by Tiger Global and WestBridge Capital. Existing investors Accel, Omidyar Network India and TAL Education have participated in the round as well. The round also saw participation from Prince Maximilian of Liechtenstein & CEO, LGT group and the Founders of Vedantu.
Speaking on the development, Vamsi Krishna, CEO and Co-Founder, Vedantu said, “Traditionally, students have utilised online learning as an afterthought to other forms of academic preparation. At Vedantu we want to turn this around and make live classes a genuine alternative to offline coaching and tuition classes. Today 30% of our students are using Vedantu as their only source of learning and this is just the beginning. Our product is our core differentiator where we offer a full-stack solution with a better quality teacher at affordable prices. We will use this funding towards boosting our technology, content capabilities and to build the brand and expand our services for learners across India.”
The funds will be utilized to establish Vedantu as a top brand in LIVE online tutoring space in India, scale operations and expand its learner base as well as deepen investment into tech and content capabilities.
Speaking on Westbridge Capital investing in Vedantu, Sandeep Singhal, Managing Director, Westbridge Capital said, “Vedantu’s founders have built a rare digital destination with a highly differentiated product with the potential to create impact at scale with a sustainable business model – we look forward to partnering them in their next phase of growth as they build India’s premier K-12 ed-tech business.”
Vedantu offers both one-to-one and one-to-many tutoring on its platform for students from 6th to 12th grades, offering all major subjects (Maths, Science, Social, English) and school boards (CBSE, ICSE, IB). Engaging with learners across 1000+ cities and 30+ countries, Vedantu’s platform sees 15 million users accessing free content every month with 1.2 million LIVE hours done till date. 500+ teachers provide LIVE classes to 150,000 learners per month.
Anand Daniel, Partner, Accel Partners said, “Vedantu has been the first to reimagine the concept of tutorials in the country and create an exponential shift towards the online LIVE Tutoring model. Vamsi and team are extremely focused on improving the educational outcomes of students using their unique online offering and we are excited to continue partnering with them on this journey."
Further, W.A.V.E has been granted an IP Patent for ‘Measuring the Effectiveness of An Interactive Online Learning System’ that helps teachers in identifying a student’s attention level. The platform helps student-teacher interaction, doubt-solving, participation in gamified quizzes, and customization of teaching patterns owing to constant feedback. Through all these capabilities Vedantu`s LIVE classes are interactive and engaging than a passive recorded video.
Siddharth Nautiyal, Investment Partner, Omidyar Network India commented, “Vedantu's pathbreaking one-to-many online live classes have continued to disrupt the market while providing students, a meaningful learning experience through top-quality teachers, and their new AI-powered platform is driving quality engagement with students in over 1000 cities. We are excited to continue working with Vedantu to help create a meaningful life for the students among the next half billion Indians.”
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