Total amount raised
$121.1 Millions
Latest funding date
6/1/2022
Location
Cuemath has successfully raised significant funding over multiple rounds, attracting notable investors such as Peak XV Partners and Capria Ventures. The platform offers a comprehensive suite of math tutoring services, both online and offline, designed to foster a love for learning in students from Kindergarten to 12th grade.
Keep reading to explore the intricacies of Cuemath's fundraising journey and the investors backing this innovative platform.
What Is Cuemath?
Cuemath, founded in 2013 by Manan Khurma, is an international online learning platform based in Bengaluru, Karnataka, India. The company specializes in providing personalized math and coding programs for students from Kindergarten to 10th grade.
With a focus on making math engaging and comprehensive, Cuemath employs trained and certified teachers to deliver its curriculum. The platform offers both online and offline classes, ensuring flexibility and accessibility for students worldwide.
Cuemath has grown significantly since its inception, now boasting a workforce of 5001-10000 employees. The company's innovative approach to education aims to build lifelong confidence and inspire a love for learning in every child.
How Much Funding Has Cuemath Raised?
- Seed Round
- Amount Raised: $162K
- Date: December 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial product offerings.
- Series A
- Amount Raised: $4M
- Date: June 2016
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: $15M
- Date: January 2017
- Lead Investors: Alphabet, CapitalG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve product offerings.
- Series B
- Amount Raised: ₹390M
- Date: December 2019
- Lead Investors: Manta Ray Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance the curriculum.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: February 2019
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and short-term financial needs.
- Series C
- Amount Raised: $40M
- Date: December 2020
- Lead Investors: Alpha Wave Incubation, Lightrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale globally and enhance product offerings.
- Venture Round
- Amount Raised: ₹4.4B
- Date: June 2022
- Lead Investors: Alpha Wave Global
- Valuation at Round: $407M
- Motivation Behind the Round: To strengthen product-pedagogy outcomes, support hypergrowth initiatives, and facilitate acquisitions and partnerships.
Total Amount Raised: $57.162M
Current Valuation: $407M
Key Investors
- Alpha Wave Global
- Details: Alpha Wave Global is a prominent investment firm known for backing high-growth technology companies. They led Cuemath's recent $57 million funding round.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Swiggy, Unacademy, Razorpay.
- Lightrock India
- Details: Lightrock India is a global private equity firm that invests in sustainable businesses. They have been an existing investor in Cuemath and participated in the recent funding round.
- Investment Focus Areas: Sustainability, healthcare, education.
- Notable Investments: Byju's, Ather Energy, Udaan.
- Sequoia Capital India
- Details: Sequoia Capital India is a venture capital firm that focuses on early and growth-stage companies. They have a history of investing in high-growth startups and participated in Cuemath's recent funding round.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Zomato, OYO, Freshworks.
- CapitalG
- Details: CapitalG is Alphabet's independent growth fund, focusing on growth-stage technology companies. They are an existing investor in Cuemath and participated in the recent funding round.
- Investment Focus Areas: Technology, fintech, healthcare.
- Notable Investments: Airbnb, Stripe, Duolingo.
- Manta Ray Ventures
- Details: Manta Ray Ventures is a venture capital firm that invests in early-stage technology companies. They have been an existing investor in Cuemath and participated in the recent funding round.
- Investment Focus Areas: Technology, innovation, consumer.
- Notable Investments: Licious, Dunzo.
What's Next for Cuemath?
Cuemath's future is brimming with opportunities. With plans to expand to over 100 countries by FY’23, the company aims to strengthen its product-pedagogy outcomes and drive hypergrowth initiatives. This expansion will bolster its presence in North America, APAC, the UK, Europe, the Middle East, Africa, and South America, positioning Cuemath as a global math education leader.
Given the recent $57 million funding round, Cuemath is well-poised for future fundraising opportunities. The company’s solid business fundamentals and ambitious growth plans suggest potential for additional investment rounds to support its expansion and product development goals. Strategic acquisitions and partnerships will likely play a crucial role in enhancing its offerings and market presence.
However, Cuemath will face challenges such as maintaining high-quality unit economics while scaling globally and competing in a dynamic edtech market. Navigating different educational standards and regulations across multiple countries will also be critical. Despite these hurdles, Cuemath's focus on delivering outstanding learning outcomes and leveraging its low capex model will be key to its sustained success.
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