Classplus Startup Story – Business Model, Funding & Company Details
Introduction
The education sector has progressed in terms of teaching and as well as learning over the past couple of years. The traditional method of teaching students using blackboard and chalk is now being slowly replaced with online methods and other advanced technology methods. With the advancements being made in technology every day, the education sector of our society is witnessing a different outcome which is taking both teaching and learning experiences to the next level.
Various companies have taken up the opportunity to guide people to learn about online learning. Students and teachers are becoming a part of the leading online learning and teaching platforms where they are able to gain and share knowledge. Similarly, Classplus is one among them that brings innovative platforms for students to learn and grow.
Classplus Company Highlights
| Founded | 2015 |
| Headquarters | Noida, Uttar Pradesh |
| Industry | Online teaching business |
| Founder | Mukul Rustagi & Bhaswat Agarwal |
| CEO | Mukul Rustagi |
Classplus is an educational online application platform where people can learn subjects. The platform was designed with the intention to provide and offer the best platform for educators to teach the young minds of our country. This start-up company which is less than a decade-year-old has now got over 1 lac teachers teaching in the platform thanking Classplus for their wonderful platform.
At the initial stage, Classplus was limited to a certain level but now it is creating a brand countrywide. The company is coming up with a brand new application platform for educators to make teaching easy and innovative at the same time.
Classplus Business Model
Classplus was founded back in the year 2015 and since then they have made a great impact in the education sector in India. The primary goal of the company is to provide a comfortable online platform for educators to teach the young minds of the country. Apart from that, the platform also provides the necessary tools for educators to teach efficiently while taking an online class.
The business model of Classplus is as simple as other online platforms where users would have to pay some amount of money as a subscription fee. The subscription fee of Classplus could be as much as INR 15,000 and could go up to INR 50,000. It is not just about the amount that the company charge but they offer a wide range of tools and services in their platform.
Classplus Revenue Model
Classplus revenue model as explained earlier remains the subscription fees made by the users of the platform including educators and as well as students. Teachers would have to pay around INR 15000 which can go up to INR 50000. The platform offers a wide range of tools for educators so that they can teach efficiently.
Students can pay their tuition fee on the platform itself and that too they can avail of the monthly installment system where students can even make their installment payments at zero interest. This is one attractive way to get the attention of students who are looking for affordable tuition.
The fees that the platform asks majorly depend upon the services that are required by the educators. In the year, 2022 the company had made a total revenue of $95.2M. Apart from that during its last round of funding that was led by Alpha Wave Global and Tiger Global had raised around $70 million.
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Classplus How The App Works?
Classplus is one of the unique platforms for educators and as well as learners. It is one of those apps that help educators make their own apps. This means that educators can sell their courses online along with the notes and study material for their respective subjects. Apart from that, Classplus also allows educators to keep a track of their student’s attendance, conduct tests, take multiple classes online, create assignments, and many more.
The most important factor that makes the application most useful is keeping a track of the payment of fees. This helps manage time for the educators which would have become a time-consuming process if educators would have to do it on their own manually.
The ed-tech company marketed its services effectively using famous personalities like Sourav Ganguly. It was Sourav Ganguly during a video session on Youtube explained how Classplus works and has helped many teachers online.
Classplus Funding and Investors
As mentioned earlier, the ed-tech company had raised around $70M during its funding round which was led by Alpha Wave and Tiger Global. The company is making huge investments in its marketing and advertising. Educators are getting a whole new experience in the platform where they can create their online classes and manage student activity as well.
Alpha Wave Ventures and Chimera Investment are two of the most recent investors of Classplus. The company was valued to be around $600M and is one of the fastest-growing ed-tech companies in their respective field.
Classplus Turnover
In the year 2022, the company revenue hit $92.5M. It was last year when the company made significant growth from its previous years. However, the losses of the company widened in the financial year 2022, INR 162.9 crore. The company is proud when it comes to choosing its brand ambassador because Sourav Ganguly is a great personality.
The company has been valued to be $600M and has earned revenue $95.2M in the financial year 2022 which was an incredible growth. But, the company had incurred some losses as well last year.
Classplus Founders
The founders of the company are Mukul Rustagi, Vatsal Rustagi, Bikash Dash, Nikhil Goel, and Bhaswat Agarwal. The company has its headquarters in Noida, Uttar Pradesh. Mukul Rustagi is also the CEO of Classplus contributing significantly in running his business successfully and achieving his mission and vision.
The core team members of the company have contributed significantly in the success of the ed-tech business. The company is making plans to expand its application services to parts where they have not been reached yet in the country. More educators would get an ideal platform to teach multiple students effectively with the necessary tools provided by Classplus.