Abu Dhabi-based Chimera Ventures has come in as a new investor, while existing investor, RTP Global, has re-doubled its investment in the NCR-headquartered company, showing confidence in ClassPlus.
ClassPlus raises $70 million, a home grown startup, that helps teachers and academic content creators by providing them with a well-designed ecosystem that gives to them better way of content delivery and ease of access to their students.
Founded in 2018 by Mukul Rustagi and Bhaswat Agarwal, ClassPlus is a mobile-first SaaS (Software-as-a-Service) platform.
The firm has secured a $70 million investment from Alpha Wave Global and Tiger Global. ClassPlus will be valued at over $600 million following this funding round.
While ClassPlus previously indicated plans to expand into overseas markets, the company is looking to expand into Southeast Asian markets such as Singapore, Vietnam and Malaysia. This is the right time to get money, this will accelerate the expansion of the company.
“We think the firm (ClassPlus) can effectively serve the vast offline market of teachers in K-12, Test Prep and other categories,” said Navroz Udvadia, co-founder, Alpha Wave.