Classplus raises $9M to grow its Shopify-like platform for teachers and coaching centers in India
An India-based startup that has built a Shopify -like platform for coaching centers to accept fees digitally from students, and deliver classes and study material online has received the nod — and capital — from a number of high-profile investors.
The business-to-business startup, called Classplus, said on Monday that it has raised $9 million in its Series A financing round led by RTP Global, a prolific investor in early stage startups. Existing investors Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures, and Strive also participated in the round, said the two-and-a-half-year-old startup.
As dozens of firms bet on hundreds of millions of students — and their parents — to embrace digital learning apps, Classplus, also backed by Times Internet, believes that hundreds of thousands of teachers and coaching centers that have gained reputation in their neighborhoods are here to stay.
“We are serving these hyperlocal tutoring centers that are present in nearly every nook and cranny in India. Anyone who was born in a middle-class family here has likely attended these tution classes,” said Mukul Rustagi, co-founder and chief executive of Classplus, in an interview with TechCrunch.
“These are typically small and medium setups that are run by teachers themselves. These teachers and coaching centers are very popular in their locality. They rarely do any marketing and students learn about them through word-of-mouth buzz,” he said.
Rustagi described Classplus as “Shopify for coaching centers.” Like Shopify, the service does not serve as a marketplace that offers discoverability to these teachers or coaching centers. Instead, it offers a way for these teachers to leverage its tech platform to engage with customers (in this case, students).