Online learning app maker Vedantu just raised $100 million in a Series E financing round that values the Indian start-up at a whopping $1 billion.
The round was led by ABC World Asia with participation from existing investors.
The Vedantu app offers courses for grade six to grade 12 students via interactive smartphone or desktop sessions.
To date, the group has amassed over 35 million monthly active users and had 200,000 paying customers last year.
Revenues grew 4x last year alone and the annual run rate is $65 million.
With children in India representing one of the largest populations of school-age educational platforms are booming. The market is estimated to be worth $126 billion in 2021.
Apps such as Vedantu address the challenge of delivering resources in a timely and location-independent manner.
Vedantu plans to use the funding to innovate the platform and deliver sustainable value. It wants to extend its offering for students in grades one to five and is looking at expanding internationally.
The post Vedantu educational app raises $100 million appeared first on Business of Apps.
source https://www.businessofapps.com/news/vedantu-educational-app-raises-100-million/
