Live online tutoring platform Vedantu secures its position in the unicorn club after raising $100 million in a Series E round led by Singapore based ABC World Asia and participated by Coatue, Tiger Global, GGV Capital, Westbridge and others.
Vedantu is the 28th startup to achieve unicorn status in 2021 alone. Other than Vedantu, professional networking platform for blue and grey collar workers, Apna and e-sports platform Mobile Premier League had joined the club after Zetwerk, Grofers, Eruditus, CoinDCX, upGrad, MindTickle and BharatPe verified their place in the unicorn valuation last month.
The funding marked Vedantu’s status as the largest K-12 Live online tutoring company in India. The funds will be used to strengthen product engineering functions as well as expanding into newer categories through organic and inorganic routes.
Vedantu has delivered its services to over 200,000 students last year, a 300% growth over the previous year along-with a revenue increase of 4.5x over the previous year.
Vamsi Krishna, CEO and Co-Founder, Vedantu said,"Back in 2014, when we held our first LIVE class, nobody believed this would work. It is super satisfying to see this format becoming mainstream and Vedantu leading the way in innovative online delivery experiences. Our vision is simple: Unleash the potential in every child. We will continue to innovate to reach as many students as possible and create 10x better experiences and outcomes for every child at Vedantu.”
Sugandhi Matta, chief impact officer at ABC World Asia said, “Vedantu's innovative platform empowers teachers who have delivered excellent results to offer personalised education to many students at once, creating the potential for impact at scale”.
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