Established in 2014 by Vamsi Krishna, Anand Prakash and Pulkit Jain, Vedantu contends to be the introductory company to start live tutoring. It proposes live interactive classes to students across grades K1-12, for all significant boards and top competitive exams, such as Joint Entrance Exam (JEE) for admission into engineering colleges and National Eligibility cum Entrance Test (NEET) for medical colleges. Vedantu encourages teachers to give live classes to students in an interactive manner. It administers a marketplace model for teachers, where students can choose to learn from an online tutor of their choice.
Vedantu is an edtech startup where teachers provide live online tuitions to students, using a technology built in-house. At existing, the start-up is providing services to ICSE and CBSE students from grades 4 to 12 in India and the Middle East. On Vedantu, a teacher can give personalised teaching using two-way audio, video and whiteboarding tools where both teacher and student can see, hear, write and interact in real-time.
Vedantu, where Veda is “Knowledge” and Tantu is “Network”. It mainly provides services to students of grade 4th to 12th for the Indian Certificate of Secondary Education (ICSE) & Central Board of Secondary Education. Currently, the company’s primary business is live online tutoring in STEM, Hindi, English, Sanskrit, German, French, Environmental Science, and Social Science. It also contends to provide test practice courses for the Indian Institute of Technology Joint Entrance Examination (JEE) Foundation, National Talent Search Examination (NTSE), and Problem Solving Assessment (PSA).
“Vedantu has always believed in the concept of LIVE interactive classes being a superior format for online learning which creates greater learning outcomes. During the lockdown, everyone is talking about LIVE classes and it is the best time for us to drive more adoption and strengthen our brand as the best destination for LIVE classes. On top of adding new categories, we will use the funds to invest into content and technology to create the world’s best LIVE teaching-learning experience.” – Vamsi Krishna, CEO, and Co-Founder, Vedantu
Vedantu – Business Model and Growth
Vedantu supervises in a B2C business model, wherein company provides aids such as online live tutoring using a virtual learning environment called WAVE (Whiteboard Audio Video Environment) to students in the K-12 segment, besides giving online tutoring to students for various competitive exams. Vedantu documented the growth of 220 per cent during the recent lockdown, with close to 1.5 million students attending live classes every month and teachers delivering over eight million hours of classes. In 2019, Vedantu launched its WAVE platform. This program adopts AI (Artificial Intelligence) and ML (Machine Learning) for personalising teaching as well as learning for each student and has been expanded for making LIVE classes more appealing and pleasing.
The startup has raised its first round of funding after six months of established functional format. It has raised $5 million from Accel Partners and Tiger Global Management in its Series A funding. Vedantu intends to utilise the funding in developing technology solutions for tablets and mobile with scalability, which can operate hundreds of live learning sessions concurrently. Vedantu has raised $11 million in a Series B funding round led by Silicon Valley impact investment firm Omidyar Network and also bestowed by its existing investor Accel Partners.
On August 29, 2019, Vedantu announced that it had raised $42 million in a Series C funding round for expansion in India. In July 2020, Vedantu raised $100 million in funding led by US-based Coatue. With the latest budget, Vedantu’s total fund tally stands at over $200 million.