Gurugram-based edtech firm Camp K12 on Thursday said it has raised USD 12 million funding in series A round led by Matrix Partners India and Elevation Capital. The company plans to use funds to hire leaders across functions, hyperscale operations, marketing, and to build engineering and product teams.
“We are able to establish our product leadership in every category and geography we have forayed into, be it India, Middle East, or the United States. This series A Investment will accelerate our expansion and we are beefing up our team with experienced doers from business, sales, marketing, product, operations and engineering,” Camp K12 co-founder Sandeep Bhagi said.
The company claims that its US business has grown two times month-on-month over the past three months. In the Middle East, Camp K12 claims to have registered three times month-on-month growth. Over the next six months, the company will add two new geographies and one new content category, and will deepen its reach in each existing geography via a group class format that in India already accounts for over 25 per cent of revenues, the statement said.
“We have seen Camp K12 successfully using technology to own quality and end-to-end experience, and to evolve a new pedagogy for online learning. Their investment in product research and development has also allowed them to nimbly expand into new categories and geographies and to rapidly scale small group classes as a format,” Elevation Capital partner Mukul Arora said.
Camp K12 connects students in the 5-18 age group across the globe with teachers for live, interactive online courses across essential skill categories such as coding and English. “We are excited for the next leg of growth as we co-invest with Elevation Capital in this round,” Matrix India managing director Vikram Vaidyanathan said.