Teachmint Becomes the Fastest Indian EdTech Startup to Raise $20 Million
SAN FRANCISCO--(BUSINESS WIRE)--#digitaltutoring--Learn Capital, a venture capital firm focused on education technology, announced today it led a $16.5 million dollar investment in Teachmint, India�s leading online teaching platform. Other investors in the round of financing include CM Ventures, and existing investors Lightspeed and Better Capital. Bengaluru-based Teachmint is a mobile-first, video-first, teaching platform that enables teachers to seamlessly digitize their classrooms. The platform also enables ease of content delivery, enhanced student engagement and seamless workflow tools. Teachmint is the world's largest live teaching platform outside China with over 700,000 teacher registrations. Teachmint�s Series A also marks the first major lead investment in India by Learn Capital, often regarded as the first-ever and leading global edtech venture capital firm with early investments in Coursera, Udemy, Brainly, and 50+ global category leaders.
This is Teachmint�s third round of investments within 10 months of its launch in May 2020, making it the fastest edtech startup in India to raise more than $20 million in capital. The edtech innovator will use these funds for hiring top talent, R&D on teaching technology, strategic acquisitions, and further market expansion.
Teachmint has rapidly become the default teaching application in India with end-to-end digitization of live classes, AI-powered automated assessments, admin tools and fee collection. Teachmint has been adopted by teachers, private tutors, coaching operators and freelance educators across the country, covering users in over 1,500 cities and towns. Through Teachmint, teachers are not just engaging their existing students, but are able to access larger student bases across the country, through growth tools like personalized websites, public streaming and social media integration.
Teachmint was founded by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar, alumni of IIT Bombay and IIT Delhi with executive experience at OYO, McKinsey, Swiggy and Roposo. The founding team�s vision is to democratize online education by making online teaching easy and by doing so, increase access to quality teachers for students in India and abroad.
Mihir Gupta, Co-founder & CEO at Teachmint shared, �We started Teachmint to address the big technology-infrastructure gap in teaching and learning. Through Teachmint, existing teachers have adopted technology to significantly increase their teaching efficiency, reduce costs and increase their student base. In addition to existing teachers, Teachmint is supporting new individuals to create teaching businesses from scratch across domains like K-12 tutoring, test prep and extra-curricular learning.
"We are excited to welcome Learn Capital who have been partners to the journeys of some of the largest education companies globally. We look forward to learning from their experience across global markets. We are also thankful to CM Ventures as well as our existing investors Lightspeed and Better Capital for their continued support towards our cause.�
Vinit Sukhija, Partner at Learn Capital commented, �From the Learn Capital team�s first meeting with Teachmint�s co-founders several months ago, it was clear that their collective team had meticulously architected an end-to-end, multi-modal, and best-in-class solution enabling teachers in India to instantly and seamlessly digitize their classrooms. Now with over 700,000 teachers, Teachmint has become India�s leading online teaching platform. The entire Learn Capital team is grateful to have the opportunity to partner with the Teachmint team as it progresses towards the company�s vision of democratizing online education in India and beyond.�
Teaching is highly localized in India in terms of languages (around 80% secondary-level students study in Hindi and vernacular media), curricula and teachers� own unique styles and pedagogy. Teachmint has been built with a focus on regional customization and is available in 10 Indian languages other than English. Available as an Android, iOS and Web application, Teachmint is ranked amongst the Top 5 free Education Apps on Play Store in India.
About Teachmint:
Teachmint (www.teachmint.com) is India�s largest online teaching platform and one of the fastest growing edtech startups. Teachmint offers a mobile-first video-first experience that enables teachers to create a digital persona of every classroom out there. Through Teachmint, teachers are able to deliver live online classes, ensure continuous student engagement, automate their admin workflows and manage cash flows.
By enabling teachers to seamlessly digitize their classrooms, Teachmint is on the path to create the largest teacher-student network in India and abroad. In less than 10 months from launch, more than 700,000 teachers from 1,500+ cities and towns have signed up on Teachmint from Srinagar in Jammu and Kashmir to Port Blair in Andaman and Nicobar Islands.
Backed by marquee investors like Learn Capital, Lightspeed, Better Capital, and Titan Capital, Teachmint is led by alumni of IIT Bombay and IIT Delhi with executive experience at OYO, McKinsey, Swiggy and Roposo (Glance).
About Learn Capital:
Learn Capital is a venture capital firm focused on breakthroughs in education technology. As the first dedicated firm in the sector, Learn has invested early in 50+ global category-leading companies including Coursera, Udemy, VIPKID, Nerdy (Varsity Tutors), Andela, Minerva, Brainly, Higher Ground Education, Photomath, Teachable, and many others. Headquartered in the San Francisco Bay Area, Learn supports entrepreneurs pursuing scalable learning platforms and cloud-powered instructional services intended for stakeholders of every age and background and on nearly every continent. For more about the firm, visit learncapital.com.
Contacts
Kathryn Kelly, Kelly Communications
[email protected]
Julie Mathis
[email protected]
