Classplus

Founded in 2015 by Mukul Rustagi and Bhaswat Agarwal

Classplus is perhaps amongst the few Blume portfolio companies that was the result of an outbound, and not the traditional inbound intro. In early 2019, Sajith Pai was evolving his edtech thesis; one of the key themes in his thesis was that the next great edtech startup would not be a B2C player, for CACs (customer acquisition costs were going through the roof) but infact a B2B2C player who was able to aggregate customers indirectly and could sell test prep and / or tuition to them. He chanced upon a Forbes India article that profiled Classplus.

2017

Classplus founded
Mukul Rustagi and Bhaswat Agarwal launch Classplus, a white label mobile app for tutors to manage all aspects of business; it and soon gets its first customer
2019

Seed Round
Classplus raises its seed round led by Times Internet and Strive. By now it is a 50+ team.
2019

Pre-Series A
Blume and Sequoia Surge lead a Pre-Series A round. A slide from their 2019 investor deck when they pitched to Blume
Sajith Pai
Partner
“At Blume, we are excited by Mukul and Bhaswat’s vision of a platform that empowers the hundreds of thousands of tuition and test prep centres throughout India to better serve their students, thereby enhancing learning for students, and improving earning opportunities for these entrepreneurs who run these tuition and test prep centres”,
2019

Series A
Classplus raises a series A of $9m led by RTP Global.
2020

The Pandemic
The Coronavirus pandemic and the series of lockdowns across India spur Classplus’s growth with the number of institutes doubling in 5months and number of students quadrupling. The growth spurt leads to AWI leads a $10m round Series A extension round. They now add a coaching centre every fifteen minutes.
2020

Saurav Ganguly as a brand ambassador
Saurav Ganguly comes on board as the brand ambassador. Classplus releases their first TV commercial shortly.

Read More
2021

Forbes 30u30
Mukul and Bhaswat make it to the prestigious Forbes 30u30 list for 2020.
2021

10,000^th customer
Classplus onboards it 10,000^th customer
2021

Series B
GSV leads a round of $30m Series B supported by existing investors Blume, AWI and RTP.
2021

ESOP buyback
Classplus announces its first ESOP buyback
2021

Million+ users
Over a million students use Classplus daily now.
2021

Series C
Tiger Global leads a $25m Series C nearly doubling the valuation that GSV came in at.
2022

Classplus raises its largest round
Classplus raises its largest round of $60m. Owl Ventures joins as an investor. A new course is created on Classplus platform every 3 minutes. A video is onboarded every 2 seconds. Every waking hour sees a minimum of 10k users aboard the platform.