For any educational institution to be successful, there must exist a synergy between the students, the parents, and the teachers of the center. Unfortunately, this harmony generally prevails between only two of these parties and never the whole band. What if there was a way to strengthen this relationship? And what if you could do it at just the click of a button? Or the touch of your fingers?
Mukul Rustagi and Bhaswat Agarwal met each other when they were class XI students attending their IIT-JEE coaching classes in 2007-08. Around 10 months prior to their exams, their coaching center shut down and parents started withdrawing their children from the center because they felt cheated. They were unhappy with the lack of information they received about their kids’ performance in classes, which was reflected all too clearly in their grades once the results came out. This traumatic incident is what brought the two of them together.
Mukul graduated from IIT Roorkee with a B.Tech in Electrical, Electronics, and Communications, post which he worked as a Derivatives Analyst at Futures First. Bhaswat on the other hand completed his B.E. in Electronics and Communication from Netaji Subhas Institute of Technology and went on to work in Microsoft as a Technology Strategist. They worked in their respective companies for almost 2 years, but in 2015 when they sat down to have a chat with their juniors, they realized that the problems of coaching centers back in 2007-08 were still the same today. This gave them the push they needed to get into the coaching segment. And thus began the journey of Classplus.
In 2018, Mukul and Bhaswat started a mobile platform that allowed tutors to focus on teaching by providing tech-based tools that helped them efficiently manage their administrative tasks. It supported coaching centers in areas of communication, class scheduling, payments, and practice tests and gave students access to video tutorials and multimedia educational content tailored to each of their needs. Parents could now keep track of their child’s progress with regular updates on the app.
In the current scenario of the COVID-19 pandemic, where all institutions have been forced to take their businesses online, Classplus has dominated the B2B edtech industry with their app. They currently work with more than 3,500 coaching centers across 50+ cities in India and have raised total funding of about $14 million (about Rs 105 crores) backed by RTP Global, Sequoia Surge, Blume Ventures, Strive, Times Internet and Spiral Ventures.
This edition of #LVStartup Stories follows Mukul and Bhaswat as they talk about the inception and mission of Classplus and their experience working with their new investment partners and the team at LetsVenture.
Watch the video here: