UAE’s Alpha Waves invests in India’s Cuemath

Cuemath, a world one-on-one on-line maths tutoring platform, has introduced fundraising of $57 million in a recent spherical led by Alpha Wave at a valuation of $407 million – a greater than 2X bounce in valuation. The funds will gas strengthening product-pedagogy outcomes, hypergrowth initiatives, acquisition and partnerships, and catalyse its efforts to construct a powerful international maths model.

At present current in additional than 70 international locations, Cuemath goals to develop to over 100 international locations by FY’23. This plan consists of bolstering its presence in North America, APAC, the UK, Europe, Center East and capturing markets in Africa and South America.

Responding to the most recent funding, Vivek Sunder, CEO at Cuemath, commented, “Cuemath’s newest fundraise is a major feat given the current {industry} traits. Valuations have turn out to be extra reasonable with rationalisation hitting the market; solely these growth-stage startups with stable enterprise fundamentals can now set up belief with VCs. Due to this fact, this substantial inbound curiosity from all our present buyers validates Cuemath as a information professional within the international after-school maths tutoring market and alerts acknowledgement of the developments over the previous few quarters.

Cuemath has proven promising progress for the reason that final funding. Product innovation and personalisation coupled with a low Capex mannequin augmented our international scale-up and beefed our conversion charges by 3X. With the best-in-class retention and acquisition engine, we’ve created a robust mixture of a sustainable and scalable enterprise mannequin.”

Manan Khurma, Founder & Chairman of Cuemath stated, “What distinguishes Cuemath from nearly each different edtech firm is that we give attention to one factor and one factor solely – deep maths studying outcomes. In each Cuemath class, the coed experiences a robust and customized mixture of a extremely visible maths curriculum delivered by a rigorously-trained, caring instructor. This has enabled Cuemath to have probably the greatest retention charges within the {industry} (80%), with half of all new admissions taking place by way of referrals. These industry-leading metrics inspired all our funding companions to help us but once more in our international maths mission.”

Cuemath’s new funding spherical is a optimistic change within the {industry}, not solely when it comes to the funding measurement but additionally in investor participation. Led by Alpha Wave, this fundraising consists of all their present buyers, together with Lightrock India, Sequoia Capital India; Alphabet impartial progress fund CapitalG; Manta Ray; and Unitus.

Anirudh Singh, MD at Alpha Wave International commented “Cuemath’s means to efficiently ship excellent studying outcomes via its proprietary platform and top-tier pedagogy has continued to impress us. Not solely in India, its success in key worldwide markets just like the US, UK, Center East, and Singapore, whereas sustaining high-quality unit economics differentiates the corporate in a aggressive and dynamic EdTech market. Excessive-quality adept lecturers addressing a international want for specialised give attention to maths tutoring create a powerful flywheel impact. We’re excited to guide this funding as Cuemath deepens its penetration throughout international markets.”

Divya Venkatavaraghavan, an investor at Lightrock India, commented, “Manan Khurma, Vivek Sunder, and the Cuemath staff have constructed a student-first product, designed for the way forward for work and centered on studying outcomes. Cuemath’s high quality of traction in 70 international locations and its efforts to construct a parent-centric engagement mannequin has solely strengthened our conviction within the staff. We’re honoured and privileged to help the staff in its subsequent progress part.”

Surya Mantha, an investor at Unitus Ventures, commented, “We’re thrilled with the super progress that the Firm has made alongside each dimension: product, international enlargement, and human expertise. It has all of the substances for strong and sustained progress and is nicely on its method to changing into an admired international schooling model. It’s our privilege to reaffirm our confidence within the Firm and make investments afresh alongside a number of the most revered international buyers.”

Cuemath’s imaginative and prescient is to turn out to be the primary maths instructing platform globally, and its mission is to create the subsequent era of invincible downside solvers. Cuemath’s progress will likely be impactful and environment friendly relatively than capital intensive. It’s going to hyper-focus its efforts on delivering high-quality maths schooling to turn out to be a International Maths Chief – nurturing the love of studying inside college students, incomes mother and father’ loyalty, and creating a military of downside solvers throughout the globe.

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