Seeing ample opportunity in the EdTech space, Mukul Rustagi, Classplus founder chooses to explore the education sector once more to solve tutors’ problems. According to a report by the National Sample Survey Organization, the market for tutoring institutes in India is huge, which said 71 million students in the country opted for private tutors in 2017.
Even though the figures are not recent, going by the number of billboards in smaller cities that advertise for such institutions—Kota in the West Indian city of Rajasthan being the hub of such tutoring centers— So, it is safe to say that the market is growing.
Excited by the teachers’ feedback, Rustagi, as Classplus founder, started it in 2018, a B2B company that offers a mobile app for teachers that provides tech-based tools for their administrative tasks. Let’s look at the journey of Classplus.
Early Life OfClassplus Founder
Mukul Rustagi is born and brought up in Delhi. After finishing his BTech from IIT Roorkee in 2013, Mukul joined Futures First as Financial Derivatives Analyst and worked there till September 2015.
Yet, bringing coaching classes to the internet is where Classplus founders Mukul Rustagi and Bhaswat Agarwal wanted to create a niche. They met each other during their IITJEE preparation days in coaching during 2007, and the vision for their startup Classplus stems to a great extent from this experience.
At the point when their coaching classes shut for 10 months before the exam date, Rustagi and Agarwal understood the need to help educational SMBs and coaching centers with mobile technology to understand the potential problem area for students and parents’ ideas of Classplus strikes to the mind of future Classpus founder.
Classplus founders started playing with many ideas and pilots for an endeavor, but without any progress. After intensive exploration and spending lots of time around Kalu Sarai, Delhi’s biggest coaching market, they listed more than 500 interactions with students to comprehend the K-12 private coaching sector void. It is among the 17 startups from the main accomplice of Surge, Sequoia India’s rapid scale-up program for a startup at the initial stage in India. Within 15 months of its launch, Classplus has constructed a base with more than 1,200 coaching centers across more than 50 Indian cities.
How Classplus Founder Expanded The Venture
When the organization had the main version of its first item in 2018, the application just had a texting option, which permitted educators and students to collaborate about class timetables and study materials, and for the guardians to know the feedback about their wards’ progress.
These communications used to occur through WhatsApp, which the teachers didn’t discover to be satisfactory, Classplus founder said. Conversing with a whole class of students over WhatsApp meansdealing with a continually overflowed chat. Group management was likewise an issue, especially when educators expected to interact with simply a part of a class. The way that this mixed in with their own chats made it considerably more chaotic.
The startup approached slowly and carefully. It seemed well and good for Classplus founder to begin with improving the communication methods. From that point forward, the group added different highlights, similar to fee tracks that made it simpler to regulate student fee structures dependent on discounts offered to different students.
Somewhere around 2018 and 2019, Classplus added a few different options, such as giving teachers the way to deliver study materials through their platform, getting this method off WhatsApp, and an access point that was clear for students.
The next idea was to give teachers the space to distribute video tutorials for their students. For which they used YouTube to share tutorials video by teachers. With these content distribution methods in place, Classplus created a separate monetization channel for educators—anyone could buy their study materials and video tutorials, giving the tutors extra income for what they have already prepared for their ordinary classes. Classplus didn’t stop there. Now, teachers are using this platform to design assignments and mock tests.
Growth And Funding
While many EdTech companies are just centered around the end students, RustagiClassplus founder clarified that he needed Classplus to tap the web wave to give both teachers and students a profitability option.
As indicated by reports, Classplus will be esteemed at almost Rs 300 crore in the post-Series A round. There will be a correlation between the last financing type and the to be funding type round. Presently Classplus is having over 500000 clients and more than 3000 teachers on their platform.
Classplusfounder is setting things towards raising an amount of $73 crores. It will be driven by Blume Ventures, Spiral Ventures, Strive Investment Partnership, and Sequoia Surge Ventures. RTP Global has set things to contribute an amount of around Rs. 30.16 crores. While Surge Ventures have intended to put a sum of Rs. 15.08 crores.