India, October 25th, 2021: Teachmint, education infrastructure startup and the creator of India’s largest teaching platform, raised $78 million in Series B round led by Rocketship.vc and Vulcan Capital. This round also saw new investors, Goodwater Capital and Epiq Capital, join the company’s cap table. Existing investors Learn Capital, CM Ventures, Lightspeed India and Better Capital continue to double down in the fifth round raised by the company.
The new round brings the 16 month-old startup’s all-time raise to $118 million, making it the fastest such capital raise for an Indian startup in the education space. Teachmint will use this fresh infusion of funds to further strengthen its proprietary classroom technology as well as to expand into international markets. The ‘ed-infra’ startup has rapidly grown to a user-base of over 10 million users in India and aims to scale this to over 100 million users globally in the near term. To achieve this, Teachmint will also extensively focus on growing its teams and hiring skilled talent, especially across product, technology and design. The company plans on doubling its workforce in the next six months and will also announce its largest ESOP buyback plan to reward and recognize the contributions of its team.
In addition to continued growth of it’s mobile-first teaching platform, Teachmint has also expanded its ed-infra offerings with products like Teachmint for Institute and Education Video-as-a-Service. With adoption from 4,000+ educational institutes in India and multiple international edtech partnerships, Teachmint today is the only solution catering to end-to-end infrastructure needs of educators; from K-12 schools to after-school tutoring to universities and even edtechs.
Mihir Gupta, Co-founder & CEO at Teachmintsaid, “Since inception, we have been laser-focused on addressing the big technology-infrastructure gap that exists in education. Over the past 16 months, we have been humbled by the experience of powering the teaching and learning infrastructure for millions of teachers and students across India. From supporting individual teachers to powering K-12 schools, coaching institutes, colleges, universities and even EdTechs, we are disrupting technology penetration in education at an unprecedented pace.
We are thrilled to welcome onboard Rocketship.vc and Vulcan Capital along with Goodwater Capital and Epiq Capital. We are also grateful to have the continuous support of our existing investors as we execute our vision at the global stage.”
Madhu Shalini Iyer, Partner, Rocketship.vccommented, “Teachmint has addressed a latent technology problem in the education sector and are well positioned to scale their offering globally. Strong leadership combined with the passion and conviction to solve this, makes us a strong believer. We are glad to be on this rocket-ship.”
Teachmint is also eyeing a few strategic acquisitions in the near term to strengthen its infrastructure offering. The company is actively looking for partnerships with players innovating in technology infrastructure across the education ecosystem and taking their products to larger scale through Teachmint’s platform.
Vivek Subramanian, Partner, Goodwater Capital said, “Teachmint has differentiated itself with a focus on building an integrated classroom toolkit that is mobile-first and video-first. They are already among the fastest growing Ed tech companies and have the potential to make a lasting impact on how education is delivered and consumed globally. We are excited to be a part of this journey”
In July 2021, Teachmint raised $20 million in a Pre-Series B round led by Learn Capital with participation from CM Ventures. Just two months prior, in May 2021, the company raised $16.5 million in Series A funding led by Learn Capital with participation from CM Ventures, Lightspeed and Better Capital.
Teachmint is an education infrastructure provider and India’s largest live teaching platform. It was founded in May 2020 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 company is reimagining the infrastructure for education through their proprietary classroom technology, which is highly optimized for education providers across the world, including individual teachers, schools, universities and edtech organizations.
Through Teachmint’s classroom infrastructure, teachers are able to deliver live online classes, ensure continuous student engagement and automate their admin workflows. The platform is available in 11 different vernacular languages including Hindi, Telugu, Tamil and Punjabi. Within a year of its launch, Teachmint is now the largest live teaching platform in the world (outside of China) with 10 million+ teachers & students from 5,000+ cities on its platform.
Teachmint is backed by leading investors such as Rocketship.vc, Vulcan Capital, Learn Capital, Goodwater Capital, Epiq Capital, CM Ventures, Lightspeed India, Better Capital and Titan Capital.
Rocketship.vc is a global early-stage venture capital firm that is pioneering the use of data in making investment decisions. Rocketship uses machine learning to find and partner with some of the world’s most exciting companies in technology, consumer and healthcare. Founded by a world class team of data scientists and entrepreneurs at companies like Amazon, Walmartlabs and Kosmix, the firm helps founders get to unprecedented scale through a combination of data, ML expertise and deep experience in building companies. Rocketship is based in Silicon Valley with more than 44 investments across India, Southeast Asia, Latin America, Europe and North America.
Categories: Venture Capital