B2B edtech startup Classplus has raised $70 million in a Series D round co-led by Alpha Wave Global and Tiger Global.
Mukul Rustagi and Bhaswat Agarwal are the founders of Classplus.
Classplus is a mobile-first SaaS (software-as-a-service) platform that allows educators and content creators to build their online presence, digitise their offline tuition centres and sell their courses online.
Classplus will use funds to enhance the product and expand its presence. Classplus recently announced expansion in Southeast Asian markets, including Singapore, Vietnam and Malaysia.
Classplus raised $65 million in a series C funding in June last year.
Abu Dhabi-based Chimera Ventures is one of the new investors, while existing investor, RTP Global, has doubled down on their investment in the NCR-headquartered company.
The new round values Classplus close to $600 million, a more than 2 times jump in the valuation from the previous round.
Classplus has digitised over 1 lakh educators across 3,000 towns and cities serving more than 25 million students.
Classplus said a majority of its educators have witnessed a 2-3 times increase in profitability within six months of adopting the platform.