FlipClass, a Bangalore-based education startup which runs a marketplace for home tutors, has raised $1 million in a fresh funding round from S. Chand and Blume Ventures.
The company has not yet revealed how it is going to spend the newly raised money. We believe that it will utilize fund to hire new talent and expanding its offerings. This is the second investment made by S Chand in this month, and that too in the ed-tech space. It invested an undisclosed amount in Testbook two weeks before.
S Chand, a publisher of textbooks and provider of online educational content, has made five investments since 2014 in the Ed-ttech space and has a presence in smart class solutions, tablet-based content delivery, home tutoring and online test preparation.
Flipclass was founded by Vineet Dwivedi in 2013. It uses technology and internet to provide effective home tutoring solutions. The platform has an inbuilt assessment platform which provides feedback to the students and to gauge their learning. It also offers tools to support the ongoing classes and guide the students better.
It aims to help children succeed academically by helping them learn better, clarify doubts and prepare themselves for the competitive environment.
The company says that the platform was designed to address the immediate need to increase the visibility of qualified affordable tutors to parents. Various screening parameters were installed in place to achieve quality tutoring at a home ambience.
Earlier, in 2014, the company had raised around $2,50,000 in its seed funding round from LetsVenture, an online fund-raising platform. The seed round was led by Hareesh Ramanna, founder of Singapore-based BlueCap Mobile Holdings, along with participation from five other angel investors, whose names are not disclosed.
The company claims that it has an active database of 4,000 students and 10,000 tutors and has delivered over 200,000 hours of home and online tuitions.
Vineet Dwivedi, chief executive officer, FlipClass, said in a statement:
We are very excited to have S Chand invest in our platform. We will also look to integrate their content with our learning tools and provide a more enriching experience to students.