Funding
Toppr Raises Rs. 45 Crores In Series B Funding Round
Personalized elearning solutions provider Toppr has raised $ 6.92 million in a Series B funding round. This is the company’s second round of Series B funding which was led by existing investor SAIF Partners along with Helion Ventures and FIL Capital Management. The investors picked up a 11.37% stake in the firm.
According to VCCircle, the company plans to use these funds to expand their geographical footprint and accelerate their user acquisition. Speaking about the acquisition, the CEO and Founder of Toppr, Zishaan Hayath, said, “This is the second round of series B funding by our existing investors. It is the reflection of our healthy unit economics and a reinforcement of the belief that the investors have in us. We expect this capital to take us to full profitability.”
The edtech startup was co founded by Zishaan Hayath and Hemanth Goteti in 2013. Based in Mumbai, Toppr is operated by Haygot Education Pvt., Ltd. The company provides personalized educational services for students from classes 5 to 12, across CBSE, ICSE and various other State Boards. They also provide tailored content to help students prepare for board and competitive exams like IIT JEE and NEET, among others.
Toppr raised close to $12 million in May 2014 and May 2015 in a seed and Series B funding round. Till date, the edutech company has raised a total of $ 12 million in funding and claims to have over 2 million registered users and over 1 million app downloads. The platform also has a community of more than 8000 educators across the country who have contributed over 1 million learning pieces, including questions, solutions, concepts and videos.
Currently, Toppr has a strong presence across 16 cities including Mumbai, Delhi, Chennai, Bangalore and Hyderabad. Post this funding round, the company is planning to open centers in 30 cities by December 2017. The edutech startup competes with companies like Bengaluru based elearning startup Byju’s, Embibe, Examify and TestBook among others
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