Vedantu announces $100M of Series D funding led by US-based Coatue
Vedantu, India’s leading online LIVE tutoring company, has raised $100 Million as part of its Series D round. The funding was led by top-notch US-based investment firm Coatue with participation from existing investors. Rahul Kishore, Managing Director, Coatue will also join Vedantu's board. With this round, Vedantu’s valuation jumps to $600M making them the second most valued company in the Indian Edtech space.
Started in 2014, Vedantu was the first company to start with LIVE interactive teaching in the country. Today, Vedantu is a market leader in the K-12 online LIVE tutoring space. It offers LIVE interactive classes to students across grades K1-12, for all major boards and top competitive exams like JEE and NEET. Vedantu has recorded a growth of 220% during lockdown with more than 2 Mn students attending LIVE classes and teachers delivering 8 Mn+ hours of LIVE classes. With this definitive shift in consumer behavior from offline to online, Vedantu is investing to scale impact, expand into new categories, and firmly establish itself as the leading brand in the online LIVE tutoring space.
During the pandemic, Vedantu has entered the early learner segment with the launch of its coding program for 6-12 years called Vedantu SuperKids. The company has plans of launching 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 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 in content and technology to create the world’s best LIVE teaching-learning experience.”
Rahul Kishore, Managing Director, Coatue, stated, “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. This move underlines our strategy to partner with companies that are strategically positioned for high growth & scale. We are excited to partner Vedantu in their next stage of growth.”
The Rainmaker Group acted as the exclusive financial advisor to Vedantu on their fundraising.