Vedantu, the pioneer of LIVE online teaching, has announced that it has raised $ 100 million in its Series E Funding round led by Singapore-based Impact Investment Fund ABC World Asia.
Existing investors, including Kotyu, Tiger Global, GGV Capital and Westbridge, also participated in the round. With this round of funding, Vedantu is valued at $ 1 billion and has become the latest Adtech company to join the Unicorn Club.
Challenging the status quo in India’s K-12 teaching space, Vedantu was the first company to offer live online classes in 2014 and is credited with creating the class. It is at the forefront of the space for the first time with a number of innovations including WAVE, its proprietary live learning platform and 2-teacher model. Both of these innovations are playing a big role in improving student outcomes for the company. Some of the company’s innovations have been patented in the United States. The company is looking to further innovate the LIVE teaching format and reach deeper into the K-12 segment by reaching out to more students.
Today, Vedantu prepares courses for young students in the age group of 3 to 18 years as well as prepares for competitive examinations for state examinations like IIT-JEE, NEET, Commerce, CBSE, ICSE and Maharashtra Board. Through its latest offer and the fastest growing vertical, Superkids, it offers extra classes like English speaking, reading and coding.
Commenting on the latest developments, Vansi Krishna, CEO and co-founder, Vedantu, said,
“In 2014, when we held our first LIVE class, no one believed it would work. It’s very gratifying to see this format coming into the mainstream and leading the way in Vedantu’s innovative online delivery experiences. Our vision is simple: everyone Unleash the potential child. We will continue to innovate to reach as many students as possible and create 10x better experiences and results for each child at Vedantu. Although we have made quality education affordable and enabled it to reach people from our inception, There is still a lot of change that we want to take. Basically, I believe that there is a long cycle of learning, and change takes time to unfold. It takes patience and perseverance to see any significant change. We want to build a company that will take over our lives and be innovative for decades to come. “
According to a press statement, the funds will be used primarily to strengthen production engineering functions as well as expand into new categories through both organic and inorganic routes.
Sugandhi Matta, Chief Influence Officer, ABC World Asia, said:
“Vedantu uses the theme of our investment to provide better access to quality education and use digital technology to improve lives and livelihoods. The ‘Next Half Billion’ income group, which represents more than half of the country’s student population. As a pioneer and category creator, Tectonic is making changes towards online learning.Vedantu’s innovative platform empowers teachers who have delivered excellent results in individualized learning to multiple students at the same time, which is likely to have a huge impact.We are happy to partner with Vamsi and Vedantu Is happening because they are shaping the learning outcomes of students in India.
Vedantu is at the forefront of K-12 LIVE teaching space. Each month, more than 35 million users access Vedantu for free through its app and web. Its YouTube channel has received 65 million views, the highest in the K-12 category for any educational company in India. Students on Airtel TV and Tata Sky access Vedantu through its dedicated channel. Vedantu paid more than 200,000 students last year, an increase of 300% over the previous year. With this increase, the revenue increased by 4.5x compared to the previous year, making it the fastest growing online education company in the space and the second largest company in K-12 overall in terms of revenue and number of students.
According to a statement, the next round will close in the next few weeks, with more investors joining the next round. Vedantu also raised १०० 100 million in a series of funding rounds in July 2020, led by Quotu Management in New York.
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