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    Amid surge in online tutoring demand, Vedantu raises $100 million in Series-D

    Amid surge in online tutoring demand, Vedantu raises $100 million in Series-D

    Amid surge in online tutoring demand, Vedantu raises $100 million in Series-D
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    By Shruti Mishra   IST (Updated)

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    Online LIVE tutoring company Vedantu has raised $100 million as part of its Series-D funding round, led by US-based investment firm Coatue. The funding round also witnessed participation from existing investors - GGV Capital, Tiger Global, Omidyar Network and WestBridge Capital.

    Online LIVE tutoring company Vedantu has raised $100 million as part of its Series-D funding round, led by US-based investment firm Coatue. The funding round also witnessed participation from existing investors - GGV Capital, Tiger Global, Omidyar Network and WestBridge Capital.
    With this round, Vedantu’s valuation jumps to $600 million, making it the second most valued company in the Indian Edtech space, the startup said. Rahul Kishore, managing director of Coatue, will also join Vedantu's board.
    Founded in 2014, Vedantu started with LIVE interactive teaching and today is a market leader in K-12 online LIVE tutoring space, it added. The startup offers LIVE interactive classes to students across grades K1-12 for all major boards and top competitive exams like JEE and NEET.
    According to the company statement, Vedantu recorded a growth of 220 percent during lockdown with more than 2 million students attending LIVE classes and teachers delivering 8 million+ hours of LIVE classes.
    With this definitive shift in consumer behaviour from offline to online, Vedantu is now investing to expand into new categories, and establish itself as the leading brand in the online LIVE tutoring space.
    During the COVID-19 pandemic, Vedantu entered the early learner segment with the launch of its coding program for 6-12 years called Vedantu SuperKids. The company has plans to launch more programs in this category.
    Vamsi Krishna, CEO, and co-founder, Vedantu said, "Vedantu has always believed in the concept of LIVE interactive classes being a superior format for online learning which creates greater learning outcomes. During 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.”
    One of the largest technology investment platforms in the world, Coatue currently has nearly $18 billion in assets under management. Some of its private investments include Airtable, Ant Financial, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap and Spotify. Coatue’s investment in Vedantu marks its entry into the Indian EdTech market.
    Kishore said, "Online learning adoption in India is at an all-time high setting a new benchmark for the rest of the world. As we continue to focus on driving high-growth ventures, our investment in Vedantu marks our entry into the Indian EdTech market.”
    The Rainmaker Group acted as the exclusive financial advisor to Vedantu on their fundraising.
    Vedantu says it captures 70 plus parameters that helps drive high engagement and interaction in a virtual class, and gives students their personalized learning reports to help them understand the knowledge gaps.
    Students can also access free content, take tests, and play LIVE quiz every day. One million-plus students study LIVE every month on the platform and more than 25 million users every month from 1,000-plus cities and 40-plus countries access free content, tests, doubts, videos on Vedantu's platform, and its channels on YouTube, it added.
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