The startup has witnessed rapid growth and aims to reach 1 lakh customer base by 2021
Ed-tech startup ClassMonitor has been witnessing steady growth as they have provided 2x exit to early stage investors in 2 years. Existing investors, including the Dubai-based Calega Family Office, have now bought an extended holding from other early-stage startup angel investors.
The startup is tracking rapid growth as it has seen 20,000 subscribers in the last 3 months and aims to add another 40,000 clocks in the next 3 months to collect a total of 1 lakh subscribers by 2021. The startup currently has an ARR of 100 million and aims to grow rapidly and reach 200 million in ARR by March 2022. ClassMonitor boasts a PAN India customer base for 1-8 year olds, with Tamil Nadu, Karnataka and Maharashtra in the top 3 states. .
At present, startups have 95 per cent of their total users from India and 5 per cent from abroad and aim to increase the proportion to 90 per cent from India and 10 per cent from abroad, respectively, within the next 6 months. This growth trajectory was recently followed by the global expansion of startups. In addition, the startup expects growth in the Philippine, Australian and Middle Eastern markets and aims to continue its deeper penetration into the Tier 1-3 market. The company wants to strengthen its customer base in Uttar Pradesh, Gujarat and Rajasthan.
ClassMonitor plans to raise a Series A investment soon and has raised Rs 6 crore since its inception in 2016. As part of the Angel Round, they are backed by well-known investors, including the Calega Family Office, Piyush Jain, the chief financial officer of Al Hazari Group. , An angel investor who has invested in more than 25 start-ups around the world, Fullerton India Head of Audit, Fullerton India COO, Spice Money CFO, PATH India Limited