A pioneer in LIVE online tutoring in India, Vedantu has reportedly raised USD 24 Million in its their Series C extension round. Global venture capital firm, GGV capital led the funding along with participation from existing investors. This came in addition to the $ 42 Mn raised in August 2019 which has made this a total of $ 66 Mn round. The total fund raise at Vedantu stands $ 85 Mn.
Vedantu is a category creator and leader in the K12 LIVE tutoring category with millions of learners in and around 1000+ cities as well as 40+ countries. It will be utilizing the raised funds by investing in brand leadership and expanding into new categories such as early childhood to lower grades (till Vth standard), adding newer experiences as well as dimensions for learners of young age from metros to small-town India to get an understanding of concepts in an engaging and fun manner. While Vedantu now has more than 1 million lifetime learners already engaged on its online learning platform, it is likely to explore opportunities in regards with scaling impact as it achieves 4X growth this year.
Abut 25 Million users are witnessed accessing free content at Vedantu’s platform every month. Live classes are provided by 500+ teachers to about 6 Million learners per month. Via its highly intuitive next generation platform W.A.V.E which measures learning outcomes more than 70+ parameters. On a mission to use online learning in exciting and new ways, the funding would be a great help to Vedantu which is technology company at the core to stay ahead of the curve while maintaining its leadership.
Tiger Global and WestBridge Capital were the ones to lead Vedantu’s previous Series C Funding of $42 Mn round. This round was also participated by Omidyar, Accel, Omidyar, Prince Maximilian of Liechtenstein, TAL Education, CEO, LGT Group.
Vedantu’s unique selling point is its specificness of highly qualified teachers as well as a technology-driven comprehensive academic system that ensures predictable learning outcome for nearly all students. With major focus on the service quality of the course Vedantu’s strategy is to enable superior learning outcomes. Vedantu nevertheless also provides measurability in terms of learning process as well as predictability in learning outcomes. This could be possible with the help of its comprehensive data capture of student’s live engagement and interaction in class and through online assessment and testing, brings tremendous capability to draw insights in regards with every student’s learning progress. These insights which are generated by AI technology at Vedantu further enables Academic Mentors in doing corrective interventions to each child and ensuring predictable learning outcome improvement for every learner.
The RainMaker Group reportedly acted as the exclusive financial advisor to Vedantu on their fund raise.