On line Math Studying Platform Cuemath Raises USD 40 Million in Sequence C Round

Led by Alpha Wave Incubation and Lightstone Aspada with participation from present buyers Sequoia Cash India, CapitalG and Manta Ray

BENGALURU, India–(Organization WIRE)–February 3, 2021–

Cuemath, a leader in on-line math mastering, these days declared the closure of its Sequence C spherical of funding. The USD 40 million spherical was led by Lightstone Aspada and Alpha Wave Incubation and saw participation from existing buyers Sequoia Cash India, CapitalG (formerly Google Cash) and Manta Ray.

Cuemath is founded by Manan Khurma, who has individually taught Math to around 10,000 college students, “Globally, education is undergoing a large transformation, pushed by electronic formats allowing college students to leverage finest practices from wherever in the world. Now, just the online math tutoring space is a USD 30 billion world wide marketplace. But brick-and-mortar shops are not able to adapt and scale rapid enough as they count on instructing tactics that are generations aged,” Manan Khurma, Founder and CEO, Cuemath claimed.

“Cuemath’s proprietary methodology difficulties the old-faculty practices. We address math not just as a subject matter, but a everyday living ability, with our periods made to effects students’ rational reasoning qualities. This fundraise gives us the opportunity to additional make our technological know-how even though expanding our base to provide the Cuemath gain to tens of millions of college students around the globe,” Khurma extra.

Considering the fact that its inception, Cuemath has built a highly differentiated understanding model on the back again of its engineering system and gamified pedagogy. This has aided it push retention costs as superior as 75%+ across India and the US, even though keeping conversion costs as substantial as 60%+ throughout its organic and natural channels.

Cuemath focuses on Math, as not just as a different faculty topic, but as a lifestyle skill. Learners are specified personalized awareness by a Cuemath-trained Math qualified dependent in India, with real-time intervention in a just one to number of (maximum of 6 pupils in a class) electronic classroom. Each pupil is on a customized mastering route. This design will allow delivering 1:1 excellent studying results with 1 to lots of economics.

Cuemath’s proprietary methodology provides demonstrated results allowing for pupils to double their pace of solving Math queries inside of 12 months. Excellent learning results have driven the ordinary subscription tenure up by additional than 50% throughout India and the US. Presently, near to 60,000 pupils from across 10 nations devote an ordinary of 5 hrs on the system every thirty day period.

Cuemath also empowers educated and perfectly-capable women in India by offering them with an alternate and versatile job choice to be a part of as teachers with the Cuemath software. At present, extra than 96% of the teachers engaged at Cuemath are gals.

The new funding will be applied to generate growth of the Cuemath system globally to produce the Cuemath pedagogy to thousands and thousands of math pupils around the world. The enterprise will construct on its prosperous start in the US to more scale up in the geography, together with other intercontinental markets. Foremost financial investment lender IndigoEdge was the exceptional advisor to Cuemath for this transaction.

Rates:

Lightstone Aspada

“The foreseeable future of instruction (and work) lies in constructing and strengthening 21st century life-techniques amongst learners. By unbundling math+ utilizing a good interface, properly trained & empathetic tutors and a exclusive pedagogy, Cuemath demonstrates great opportunity to realize its worldwide ambition to scale the enjoy for math+, an vital life-ability, amongst learners. We look forward to partnering with the inspiring leadership at Cuemath on this progress journey,” Divya Venkatavaraghavan, Principal, LGT Lightstone Aspada stated.

Alpha Wave Incubation

Anirudh Singh, Controlling Director, Alpha Wave Incubation explained in a push assertion, “On line math tutoring has confirmed to be a world-wide marketplace opportunity. We were being quite impressed by Cuemath’s capability to effectively deliver top-tier studying results via its technology platform and gamification-driven pedagogy. Its achievement in India and the US, although protecting superior excellent unit economics differentiates the enterprise and proves Cuemath’s capacity to tap into the huge world marketplace opportunity.”

Sequoia Capital India

“Cuemath has constantly targeted on building academic products that are laser-targeted on strengthening studying outcomes. A curriculum, that has been produced and refined over quite a few many years merged with a digital live discovering platform, has resulted in the program’s swift adoption among international audiences. This round is an significant milestone in their journey and the Sequoia Capital India staff is thrilled to carry on their help of Manan and his staff as they scale beyond India and into global markets,” Abheek Anand, Taking care of Director, Sequoia India commented.

CapitalG

Commenting on the funding, David Lawee, Founder and Normal Lover, CapitalG claimed, “Cuemath is leveraging foremost-edge technological know-how to deliver a lot-needed advancements in the world-wide tutoring sector, applying their differentiated, tested and reasonably priced pedagogies to hundreds of thousands of K-12 pupils across the globe. We are proud to continue supporting Manan Khurma and his crew on their journey to bring higher-excellent math and coding instruction to millions of college students globally.”

Manta Ray

“We are delighted to be ready to proceed supporting Cuemath in this following period of their enterprise expansion. We strongly believe that with this round of funding, Cuemath is wellpositioned to be counted amid the leaders in math understanding globally – a important element of any person’s instruction journey,” Lawrence Barclay from Manta Ray stated.

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About Cuemath

Cuemath is India’s primary on the net math discovering and coding software or KG-10th grade pupils throughout all university boards, unfold about 10+ nations around the world (United kingdom, United states of america, UAE, Singapore, Canada, Thailand, Indonesia, Egypt, Nigeria, India, Nepal, Bangladesh and far more).

The Cuemath Program has been intended to build a robust math and coding basis in children by sharpening their information of concepts, aptitude and reasoning expertise. Pupils in the Cuemath plan are taught by entire world course lecturers from India’s premier institutions, in tailor-produced periods, created to focus on the personal requires of the college students.

About Lightstone Aspada

Formed in partnership with Aspada and LGT in August 2019, LGT Lightstone Aspada is the Indiafocused effect financial commitment platform of LGT Lightstone. Aspada, backed by the Soros Economic Advancement Fund, has been a groundbreaking investor in commercially scalable, substantial impression enterprises throughout food provide chains, healthcare, education and learning and economic solutions in India around the very last 10 years. LGT Lightstone is LGT Group’s impression investing initiative to make a global multi-billion greenback immediate investing platform focused on scalable businesses that present accessibility to enhanced livelihoods, details and providers for underserved shoppers close to the earth and/or promote sustainable source utilization.

About Alpha Wave Incubation

Alpha Wave Incubation (AWI) is a USD 300 million venture fund managed by Falcon Edge Funds. AWI has a focused workforce throughout London, Bangalore and Abu Dhabi. The fund invests in early-stage tech-enabled, disruptive commence-ups in India and Southeast Asia. In addition to offering superb founders with early-stage capital, AWI delivers entry to an unmatched established of aid mechanisms for enterprise-making, although also assisting businesses broaden globally and open up up new markets in the GCC/MENA region and past.

About Falcon Edge Capital

Falcon Edge Capital is a diversified world wide substitute asset manager co-established in 2012 by Rick Gerson, Navroz D. Udwadia and Ryan Khoury. Falcon Edge manages about USD 4 billion in property throughout public and private marketplaces. Falcon Edge has workplaces in New York, London and Bangalore. The business offers a wide variety of investment products and solutions and procedures that go over a number of asset courses, themes and geographies.

About Sequoia Money India

Sequoia assists daring founders construct famous companies, from strategy to IPO and further than. Sequoia India operates in Southeast Asia and India where by they actively spouse with founders from a vast vary of businesses, throughout types, which includes BYJU’s, Carousell, Druva, Gojek, OYO Rooms, Tokopedia, Truecaller, Zilingo, Zomato and far more. Sequoia spurs founders to force the boundaries of what’s attainable. In partnering with Sequoia, startups advantage from 48 many years of tribal information and classes uncovered, doing work with organizations like Airbnb, Alibaba, Apple, Dropbox, Google, LinkedIn and Stripe early on. From the beginning, non-gains have been the backbone of their LP foundation, which signifies the founders’ achievements make a meaningful distinction. The bulk of income are returned to fantastic results in like the Ford Basis, Mayo Clinic and MIT. For much more information on Sequoia’s work in India and SE Asia, stop by sequoiacap.com/india

About CapitalG

CapitalG, Alphabet’s independent growth fund, aids impressive entrepreneurs speed up the progress of their firms. We associate with transformational corporations as they navigate the problems of scaling by connecting them to the latest know-how and brightest minds at Alphabet. CapitalG is happy to have labored with lots of of the most consequential technologies organizations across the planet, including Aye Finance, Cuemath, Cardekho, Practo, and Commonfloor in India. To learn a lot more, take a look at www.CapitalG.com.

About Manta Ray

Manta Ray is an early-stage undertaking capital fund backing mission-driven founders addressing major world-wide troubles as a result of making use of primary-edge systems. The fund delivers versatile and individual cash, leveraging time, methods and networks as far as probable to support its portfolio businesses.

See supply variation on businesswire.com: https://www.businesswire.com/information/house/20210203005926/en/

Ms. Samreet Kaur
Company Communications, Cuemath

Cellular – +91  9619940393
E-mail – [email protected]