India, 13 February 2020: Vedantu, a pioneer in LIVE online tutoring in India has raised USD 24 Million as part of their Series C extension round. The funding was led by global venture capital firm, GGV Capital with participation from existing investors. This was in addition to the USD 42 Million raised in August 2019, making this a total of USD 66 Million round. Vedantu’s total fund raise till date stands at USD 85 Million.
A category-creator and leader in the K12 LIVE tutoring category with millions of learners across 1000+ cities and 40+ countries, Vedantu will utilize the funds to invest in brand leadership & expand into new categories like early childhood to lower grades (kindergarten to standard 5), adding new experiences and dimensions for young learners from metros to small-town India to grasp concepts in a fun and engaging manner. With over 1 million lifetime learners engaged on its online learning platform, Vedantu will explore opportunities to scale impact as it achieves 4x growth this year.
Vedantu’s platform sees 25 million users accessing free content every month. 500+ teachers provide LIVE classes to 6 million learners per month. Through its highly intuitive next generation platform, W.A.V.E that measures learning outcomes over 70+ parameters. On a steadfast mission to leverage online learning in new and exciting ways, the funding will help Vedantu, a technology company at the core to stay ahead of the curve and maintain its leadership.
Vamsi Krishna, CEO and Co-Founder, Vedantu said, “Impact at Scale is our singular driver. With a core focus on Learning Experience and Outcomes, the impact that we have had on our learners drives us in our next phase of exponential growth. As we continue to grow our student enrolments by 4.5x year on year, we are gearing to invest in brand and entering very strongly in new categories of age group 4-10 years beyond current customer segments. We are excited to have GGV Capital back us, as a unique VC firm that has backed some of the world’s most successful companies, this is a huge validation for Vedantu. We want to further our mission to make this new format of LIVE Interactive classes the answer to the current engagement gaps in Online education and are very excited about the future.”
Hans Tung, Managing Partner at GGV Capital said, “With GGV’s track record in the EdTech space launched by my colleague Jenny Lee in 2013, we look for teams that deliver technology-enhanced education that fits the local needs. We think Vedantu has hit an inflection point with its WAVE product through which teachers with a track record of delivering superior results can offer personalized education to many students at once. We are excited to partner with Vamsi and the Vedantu team and share GGV’s global expertise and network to help them scale and shape learning outcomes for millions of students in India and beyond.” Hans is also joining Vedantu’s board.
Vedantu’s Series C Funding of USD 42 Million round was previously led by Tiger Global and WestBridge Capital in which Accel, Omidyar India, TAL Education, Prince Maximilian of Liechtenstein & CEO, LGT Group also participated.
Vedantu’ s USP is its quality of highly trained teachers and a technology-driven comprehensive academic system which ensures predictable learning outcome for all students. Vedantu’s strategy is to focus majorly on the service quality of the course and enable superior learning outcomes. Further, Vedantu provides measurability in learning process and predictability in learning outcomes. This is possible owing to Vedantu’s comprehensive data capture of student’s interaction and Live engagement in class and through online testing and assessment, provides tremendous capability to draw insights about every student’s learning progress. These insights generated by Vedantu’s AI technology then enable Academic Mentors to do corrective interventions to each child to ensure predictable learning outcome improvement for all learners.
The RainMaker Group acted as the exclusive financial advisor to Vedantu on their fund raise.
About Vedantu:
Vedantu is a LIVE interactive online learning platform for students. It offers individual and group classes delivered by experienced teachers in a LIVE real-time, virtual learning environment. Students also access content, take assessments and get their learning reports on the platform. 6 million students study LIVE every month on the platform and more than 25 Million users every month from 1000+ cities and 30+ countries access free content, tests, doubts, videos on Vedantu’s platform and its channels on YouTube. To know more about Vedantu log on to https://www.vedantu.com or download the Application on your Android or iOS device.
About GGV Capital:
GGV Capital is a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV Capital focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Edtech is a key global investment thesis for GGV with portfolio companies like FengBian (风变), HuoHua (火花), ZuoYeBang (作业帮), XiaoBu (小步), Lambda School, LiuLiShuo (NYSE: LAIX) and Ruangguru. Other past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, YY, Zhaoyou and more. The firm has offices in Singapore, Shanghai, Beijing, Silicon Valley and San Francisco. Learn more at ggvc.com, @GGVCapital or GGVCapital on WeChat.
