BrightCHAMPS, a global live-learning EdTech platform for kids from 6 to 16 years to learn next-gen life skills such as coding, financial literacy, recently announced that it has awarded $1 million worth of stock options to 400 of its ‘high performing’ teachers. The teachers across 25 markets will receive these stock options, with the majority of them coming from key geographies such as India, Indonesia, Vietnam, Singapore, Malaysia, South Africa, Egypt, Lebanon, and UAE, as per an official statement.
According to the company, it is planning to award an increasing number of stock options every year for the next five years. BrightCHAMPS currently consists of 2,500 teachers from 25 countries.
Commenting on the latest development, Founder & CEO of BrightChamps, Ravi Bhushan, said:
Our faculty is one of our strongest pillars and we want to give back to them through this TSOPs initiative.
Founded in 2020 by Indian Institute of Technology Varanasi graduate Ravi Bhushan, BrightCHAMPS aims to bridge the gap between school education and children’s real learning needs. It also aims to empower students to be technologically, financially, and socially smart by nurturing the potential of every child. The platform’s methodology relies on play-based learning and includes features such as customised learning journeys, quizzing, and parental dashboards.
The company believes in nurturing the hidden potential which kids innately have. It’s adeptly crafted programs complement the school curriculum to fuel the latent talents of the children and groom them towards future success in alignment with their natural abilities and inclinations. BrightCHAMPS is operational in over 30 countries, including India, Indonesia, the United States, the UAE, and Southeast Asia.
Adding further about the initiative, CFO of BrightCHAMPS, Amit Kumar, said:
Creating avenues for greater financial value for our teachers has always been part of our long-term financial strategy. We were able to evaluate and reward teaching faculty across all four business verticals in this round and look forward to increasing coverage in the coming months. This will inspire our dedicated academy to deliver even better class experiences to our kids, while enjoying professionally and financially rewarding journeys with us.
In November 2021, the startup raised $63 million at a valuation of $650 million from Premji Invest, GSV Ventures, Flipkart’s co-founder Binny Bansal, Beenext, and 021 Capital.
Last year in August, BrightCHAMPS announced its acquisition of Singapore-headquartered Schola, a live-learning platform for kids to master communication and English skills, in a $15 million cash & stock deal. Prior to that, the firm had acquired Education10x, a financial literacy education platform for children, in a cash and stock deal in February 2022.