Vedantu announces $100M of Series D funding led by US-based Coatue
1. Valuation of Vedantu, India`s leading online LIVE tutoring company, zooms to $600M, making it second most valued Edtech company in India
2. This is Vedantu`s third round of funding in the last 12 months
3. Vedantu’s total fundraise crosses $200 Million.
India, 16th July, 2020: Vedantu, India`s leading online LIVE tutoring company has raised USD 100 Million as part of their Series D round. The funding was led by top-notch US-based investment firm Coatue with participation from existing investors. Rahul Kishore, Managing Director, Coatue will also join Vedantu’s board. With this round, Vedantu’s valuation jumps to $600M making them the second most valued company in the Indian Edtech space.
Started in 2014, Vedantu was the first company to start with LIVE interactive teaching in the country. Today, Vedantu is a market leader in K-12 online LIVE tutoring space. It offers LIVE interactive classes to students across grades K1-12, for all major boards and top competitive exams like JEE and NEET.
Vedantu has recorded a growth of 220% during lockdown with more than 2 Mn students attending LIVE classes and teachers delivering 8 Mn+ hours of LIVE classes. With this definitive shift in consumer behavior from offline to online, Vedantu is investing to scale impact, expand into new categories, and firmly establish itself as the leading brand in the online LIVE tutoring space.
During the pandemic, Vedantu has entered the early learner segment with the launch of its coding program for 6-12 years called Vedantu SuperKids. The company has plans of launching more programs in this category.
Vamsi Krishna, CEO, and Co-Founder, Vedantu said, “Vedantu has always believed in the concept of LIVE interactive classes being a superior format for online learning which creates greater learning outcomes. During lockdown, everyone is talking about LIVE classes and it is the best time for us to drive more adoption and strengthen our brand as the best destination for LIVE classes. On top of adding new categories, we will use the funds to invest into content and technology to create the world’s best LIVE teaching-learning experience.”
Rahul Kishore, Managing Director, Coatue said, “Online learning adoption in India is at an all-time high setting a new benchmark for the rest of the world. As we continue to focus on driving high-growth ventures, our investment in Vedantu marks our entry into the Indian EdTech market. This move underlines our strategy to partner with companies that are strategically positioned for high growth & scale. We are excited to partner Vedantu in their next stage of growth.”
The Rainmaker Group acted as the exclusive financial advisor to Vedantu on their fundraising.
Vedantu is India’s leading online education company which specializes in LIVE interactive classes for students across grades K1-12. It offers individual and group classes delivered by experienced Master Teachers in a LIVE real-time, virtual learning through their patented platform.
The indigenous platform built for revolutionizing online learning captures 70+ parameters, helps drive high engagement and interaction in a virtual class, and give students their personalized learning reports to help them understand the knowledge gaps. Students can also access free content, take tests, and play LIVE quiz every day.
1 Million+ students study LIVE every month on the platform and more than 25 Million users every month from 1000+ cities and 40+ countries access free content, tests, doubts, videos on Vedantu’s platform, and its channels on YouTube. To know more about Vedantu log on to www.vedantu.com or download the App on your Android or iOS device.
Coatue is one of the largest technology investment platforms in the world with approximately $18 billion in assets under management. Coatue’s dedicated team of engineers and data scientists work closely with investment professionals to add value to founders and executive teams in our portfolio.
With venture, growth and public funds, Coatue backs entrepreneurs from around the globe and at every stage of growth. Some of their private investments have included Airtable, Ant Financial, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap and Spotify.
Report compiled by Ishani Bhattacharjee for myindiamyglory.