Classplus Case Study: Funding, Business Model, Revenue, Founders, Competitors & More

Schools are gradually viewing technology as a chance to create teaching strategies and reverberate with students on technology platforms. Notwithstanding age, nowadays nearly everybody has a smartphone or laptop. But coming online becomes quite difficult for both the teacher and students who are not familiar with technologies There are different sorts of issues found in these cases.

For solving these difficulties there is a solution named Classplus. Classplus is a SaaS-based platform for offline teaching establishments, educators, and content makers to dispatch their internet teaching business. They accept that teachers are the foundation of Indian education and enabling them is the genuine significant utilization of innovation so large online organizations can’t dispense with them. During the Covid-19 pandemic, the online class was the lone route for educators to support occupations and hold their students. Let’s know more about Classplus funding, founders, business model, and more.

Classplus Company Profile

About Classplus

Classplus is a company that creates web and portable-based tutor enablement applications intended to interface and engage teachers with their understudies and guardians. Its application offers examination on a kid’s exhibition, offers test entry, extensive reports about student’ performance, empowering mentors to zero in on instructing and leading tests.

Classplus Founders

Mukul Rustagi (Co-founder and CEO), Bhaswat Agarwal (Co-Founder & COO), Vatsal Rustagi (Co-founder and Chief Executive), Bikash Dash (Co-founder and CTO),  and Nikhil Goel (Co-founder and COO) are the founders of Classplus.

Mukul Rustagi is the Co-founder and Chief Executive Officer at Classplus. He has done his Bachelor’s Degree from the Indian Institute of Technology, Roorkee, Uttrakhand. Prior to beginning Classplus, he filled in as a subsidiaries expert at Futures First.

Bhaswat Agarwal is the Co-founder at Classplus. He is an experienced Co-Founder with a showed history of working in the e-learning industry. He pursued his B.E. in Electronics and Communication from Netaji Subhas Institute of Technology. He also worked in Analytical Skills, Sales, IT Strategy, Enterprise Solution Sales, and Account Management.

Vatsal Rustagi is one of the founders of Classplus. He sought after his Bachelor’s Degree from Delhi College of Engineering. As of now, he is at Happay.

Bikash Dash is the Co-founder and CTO at Classplus. He learned at the College of Engineering and Technology, Bhubaneswar. He is additionally the founder of the company named Jet Set Clean.

Nikhil Goel is one among the founder of Classplus. He sought after his BSE in Computer Engineering from Vanderbilt University, USA. As of now, he is the one among the establishing individuals from Uber Elevate.

Classplus Business Model

Classplus was conceived out of a desire to reclassify classroom study in this country. A tutor’s exercises ought to be rearranged, a student’s expectations to learn and adapt ought to be customized and a parent ought to be consistently informed. That is the first goal of the company.

Anyone can sign in for three purposes. As a teacher, student, and parent. When signed in as a teacher, the person can make their own batches, add students, share notifications and furthermore relegate tests on the Classplus. The best part of this is that the result or performance report is given to the guardians and the mentors. For abstract inquiries, understudies should click an image of the appropriate response composed of the outline. These are to send to the teacher.

Classplus Revenue Model

Classplus’s revenue model is a simple fees method. They collect fees from the students and distribute the fees to the tutors by cutting some percentage as the platform charge. They provide their services to the more than 1,100 cities of India with over 50,000 teachers’ networks. The company claims to have 70 lakh+ students.

According to Growjo, Classplus’s estimated yearly revenue is right now $72.1 Million per year. On the other hand, Classplus’ assessed income per representative is around $150,000.

Classplus Funding

Classplus has raised a total amount of $24.2 Million in funding over the 8 rounds. The company has raised a little over Rs. 75 crore (around $10.2 million) as a part of the latest financing round. Classplus, worked by Bunch Microtechnologies Pvt. Ltd got the funding from investors including Alpha Wave Incubation and existing sponsor RTP Global and Blume Ventures.

The ed-tech startup raised over Rs. 56 crore from Alpha Wave in the new round. Blume and RTP submitted Rs. 11.26 crore and Rs 7.5 crore, separately, as indicated by the report. You can also check Vedantu Funding.

Classplus Growth

In the year 2020, Classplus said that it had grown by more than 500%, with more than 18,000 teachers utilizing the stage to instruct more than 30,0000 students in a half year. It had said that over 60% of its clients came from Tier 2 and Tier 3 urban areas, helped by the beginning of the Covid-19 pandemic.

“As per the Global Teacher Status Index by the Varkey Foundation in 2018, India was among the main 10 on the planet in regarding teachers, however, was in the last-10 in paying them. Classplus is exchanging this unevenness by engaging mentors with full-stack portable arrangements while keeping up and further improving the high standing of teachers. We are glad to back the organization with this significant mission, and have Classplus as our first ed-tech bet in quite a while,” said Kirill Kozhevnikov, a partner at RTP Global, in a statement.

Class plus which employs around 470 individuals, intends to have 10,000 training places join its foundation before the year’s over. It has a marketing group and different individuals in around 70 urban areas in India right now. The company also plans to present extra highlights for instructing fixates on its website.

Classplus Competitors

Classplus’s top competitors are Tutorbird, Smartclasses In, Learn In, Schoology. Kahoot!, etc.

Conclusion

During the pandemic period, most of the platforms empower all teachers and teaching organizations with an across the board versatile application that permits them to take their video classes, sell online courses, lead online tests, payment of fees, and student commitment, all on a solitary, simple to utilize the platform. In a limited capacity to focus time, Classplus has become the advanced identity of more than 120,000+ teachers across 1,100+ cities by making them understand their dreams.

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