Vedantu, a pioneer in LIVE online tutoring in India has raised USD 24 million as part of their Series C extension round. The funding was led by global venture capital firm, GGV Capital with participation from existing investors. This was in addition to the USD 42 Million raised in August 2019, making this a total of USD 66 Million round. Vedantu’s total fund raise till date stands at USD 85 Million.
A category-creator and leader in the K12 LIVE tutoring category with millions of learners across 1000+ cities and 40+ countries, Vedantu will utilize the funds to invest in brand leadership & expand into new categories like early childhood to lower grades (kindergarten to standard 5), adding new experiences and dimensions for young learners from metros to small-town India to grasp concepts in a fun and engaging manner. With over 1 million lifetime learners engaged on its online learning platform, Vedantu will explore opportunities to scale impact as it achieves 4x growth this year.
Vamsi Krishna, CEO and Co-Founder, Vedantu said, “Impact at Scale is our singular driver. With a core focus on Learning Experience and Outcomes, the impact that we have had on our learners drives us in our next phase of exponential growth. As we continue to grow our student enrolments by 4.5x year on year, we are gearing to invest in brand and entering very strongly in new categories of age group 4-10 years beyond current customer segments. We are excited to have GGV Capital back us, as a unique VC firm that has backed some of the world’s most successful companies, this is a huge validation for Vedantu. We want to further our mission to make this new format of LIVE Interactive classes the answer to the current engagement gaps in Online education and are very excited about the future.”
Vedantu’s platform sees 25 million users accessing free content every month. 500+ teachers provide LIVE classes to 6 million learners per month. Through its highly intuitive next generation platform, W.A.V.E that measures learning outcomes over 70+ parameters. On a steadfast mission to leverage online learning in new and exciting ways, the funding will help Vedantu, a technology company at the core to stay ahead of the curve and maintain its leadership.
Hans Tung, Managing Partner at GGV Capital said, “With GGV’s track record in the EdTech space launched by my colleague Jenny Lee in 2013, we look for teams that deliver technology-enhanced education that fits the local needs. We think Vedantu has hit an inflection point with its WAVE product through which teachers with a track record of delivering superior results can offer personalized education to many students at once. We are excited to partner with Vamsi and the Vedantu team and share GGV’s global expertise and network to help them scale and shape learning outcomes for millions of students in India and beyond.” Hans is also joining Vedantu’s board.