Online LIVE tutoring company Vedantu has raised $100 Million in series D funding led by US-based investment firm Coatue with participation from existing investors. This is their third round of funding in the last 12 months, as it has raised $24 in series C funding in February. With this new fund, Vedantu has become the second most valued company in the Indian Edtech space with a $600M valuation.
Commenting on the fundraising, Vamsi Krishna, CEO, and Co-Founder of Vedantu said, “Vedantu has always believed in the concept of LIVE interactive classes being a superior format for online learning which creates greater learning outcomes. During the lockdown, everyone is talking about LIVE classes, and it is the best time for us to drive more adoption and strengthen our brand as the best destination for LIVE classes. On top of adding new categories, we will use the funds to invest in content and technology to create the world’s best LIVE teaching-learning experience.”
Online supplementary educations platforms have witnessed phenomenal growth due to the extended nationwide lockdown with schools and colleges remains shut. Resulting from this, Vedantu has recorded an increase of 220% during lockdown with more than 2 million students attending LIVE classes and teachers delivering 8 million+ hours of LIVE courses. It has launched Vedantu SuperKids, a coding program for 6-12 years students during this pandemic.
Managing Director of Coatue Rahul Kishore will be joining Vedantu’s board. Rahul Kishore, Managing Director of Coatue, said, “Online learning adoption in India is at an all-time high setting a new benchmark for the rest of the world. As we continue to focus on driving high-growth ventures, our investment in Vedantu marks our entry into the Indian EdTech market. This move underlines our strategy to partner with companies that are strategically positioned for high growth & scale. We are excited to partner Vedantu in their next stage of growth.”
Established in 2014, Today, Vedantu is a market leader in K-12 online LIVE tutoring space by serving 25 Million users every month from 1000+ cities and 40+ countries. It also offers LIVE interactive classes to students across grades K1-12, for all significant boards and top competitive exams like JEE and NEET. With consumer behaviour from offline to online, it is also investing to scale impact, expand into new categories, and firmly establish itself as the leading brand in the online LIVE tutoring space.