Delhi-based Classplus, a startup that offers software solutions for coaching centers and tutors, has secured an undisclosed amount of funding from early-stage venture capital firm Blume Ventures.
Founded by Mukul Rustagi and Bhaswat Agarwal, Classplus provides Software-as-a-Service (SaaS) solutions for independent tutors and coaching institutes to help them manage and run their business via an app. Leveraging technology, Classplus helps tutors increase their efficiency, boost their customer experience and grow their business. It enables tutors to cut time on ancillary activities and boosts their classroom engagement.
Classplus provides coaching institutes and independent tutors a personalized mobile app that they can label under their name. The app enables them to run the curriculum and manage all their activities in a single portal. Using Classplus provided app, tutors and coaching centers can communicate and share information, notes, assignments, all from a single place, collect fees online or manage cash/cheque collection, keep parents updated about their child’s presence and performance, share live attendance with students/parents, conduct online tests with automatic checking, and provide comprehensive reports about students performance, etc.
Announcing the investment, Sajith Pai, one of the investment partners at Blume Ventures, said in a LinkedIn post,
“We are delighted to announce our investment in Classplus, one of India’s most exciting edtech starups, who are supporting the ambitions and aspirations of India’s coaching center owners, and the students who attend them.”
Talking about the company and its future plans, Pai added saying in the same post,
“When we first met Classplus in early February this year, they had 550 centers which catered to around 100k students. When our investment closed recently, just over 6 months from our first meeting, they had tripled these numbers. These 300k students constitute a ready market for products and services such as premium personalized content, testing services, college discovery and loans. Initial pilots reveal huge appetite for paid content, and buoyed by the success of these experiments, Mukul and Bhaswati are readying to go all in on content. They will expand later to offer testing, loans and other products and services.”
Needless to mention, Blume is an early-stage venture fund that backs startups with both funding as well as mentoring. The firm typically invests in tech-led startups, led by founders who are obsessed with solving hard problems, uniquely Indian, and impacting large markets. Blume has management capital of over $150 million, and has backed over 130 startups with 22 exits so far.
Classplus is Blume’s second investment from its latest fund. It follows Leverage Edu, a startup which is looking to build out a massive onramp for Indian students to study abroad.