Teachmint Funding: Teachmint raises $20 million in funding led by Learn Capital

Edtech startup Teachmint has raised $20 million in a pre-series B round led by existing investor Learn Capital with participation from CM Ventures.

The funding will help intensify its focus on development of live teaching technology, and aid enhancement of its products, expansion into newer markets and hiring of skilled talent, the company said in a statement on Thursday.

The one-year-old startup, which empowers teachers to create their own classrooms through its app, claims to have more than one million teachers on its platform.

“With this latest round of funding, the company has also seen a 3x jump in its valuation in just two months,” Teachmint said.

This is the firm’s fourth round of fundraise, making it the fastest edtech startup in India to raise $40 million, it said.

In May, Teachmint had
raised $16.5 million in a Series A funding round led by Learn Capital with participation from CM Ventures, Lightspeed and Better Capital.

The company recently launched a product that expands its offerings to schools and colleges.

Called Teachmint for Institute, the platform automates attendance, fee collection and records, and stores lectures among others.

“It has been launched in beta phase,” said Mihir Gupta, cofounder and CEO of Teachmint. “We have got 5,000 registrations from schools and colleges within a week.”

He said the company plans to take its product to global markets. “Teachmint is a product of global relevance; we will open it up into global geographies in the coming months,” Gupta said.

Vinit Sukhija, partner at Learn Capital, said, “Having inaugurated its partnership with Teachmint just several months ago, Learn Capital is thrilled to now augment its partnership at this critical juncture in the company’s trajectory as it plans for exciting new product launches and international expansion.”

In June, Classplus, another edtech startup that empowers teachers to embrace digital learning, had raised $65 million in a series C round led by Tiger Global.

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