Existing investors which include Dubai based Calega family Office have now purchased an increased holding from the startup’s other early stage angel investors.
Amidst the global pandemic where all industries are severely hit, Home Learning ed-tech startup ClassMonitor has been consistently witnessing growth as they provided a 2x exit to the early-stage investors within 2 years. Existing investors which include Dubai based Calega family Office have now purchased an increased holding from the startup’s other early stage angel investors.
Established in 2016, ClassMonitor a home learning platform for early childhood learners and parents, blends traditional teaching with modern methods of learning. ClassMonitor’s hybrid learning tool takes children to a learning space that combines real life learning experiences with curated activities. The brand offers integrated annual learning packs which are designed for comprehensive learning, logical thinking and problem solving. The products are designed in such a way that they address the year-long learning requirements for the age group 1- 8 years and are very affordably priced.
“This is a big milestone and achievement for us at ClassMonitor. In the past quarter, we have touched over 20,000 customers and helped over 100000 kids so far in shaping their initial learning years. This exit displays our current growth and re-establishes the faith provided by our investors in us and in this ecosystem at large.It gives me a great sense of pride and achievement to see the people who had put their trust in us, exit with good returns” says Vijeet Pandey, Co-Founder and CEO at ClassMonitor.
The startup has been tracking growth rapidly as it witnessed 20,000 customers in the last 3 months and aims to clock another 40,000 in the next 3 months to garner a total of 1 lakh customers by 2021. The startup currently has an ARR of 10 Cr and aims to tap rapid growth and reach to 20 cr in ARR by March 2022 .ClassMonitor boasts a PAN India customer base of parents with children in the age group of 1-8 years with Tamil Nadu, Karnataka & Maharastra being the Top 3 states.
Currently, the startup has 95% of their total users from India and 5% from abroad and is aiming to increase the ratio to 90% from India and 10% from abroad respectively in the next 6 months. This growth trajectory is followed by the startup’s global expansion recently. Additionally, the startup expects growth in the Philippines, Australia, and the Middle East markets and aims to continue deeper penetration in the Tier 1-3 markets. The company is also looking to strengthen their customer base in Uttar Pradesh, Gujarat, and Rajasthan.
ClassMonitor plans to raise a series A investment soon and to date has raised ₹6 crore since inception in 2016. As part of the angel round, they are backed by renowned investors including Calega Family Office, Piyush Jain, Chief Financial Officer of Al Hajri group, an angel investor who has invested in over 25 start-ups across the globe, Audit Head of Fullerton India, COO of Fullerton India, CFO of Spice Money, PATH India Ltd.
Source: Business World