Classplus is an edtech startup that provides an online platform for managing coaching institutes and providing instructors with software solutions to create courses. The platform offering educational courses announced a 108.3 percent increase in operating revenue to Rs 212.6 crore in FY24. The startup provides several software solutions that allow educators to create video courses. These sales of products and allied services are the company’s primary source of revenue.
Entrackr mentioned in its report that the firm also earns income through the interest on fixed deposits. Classplus saw an eight-time revenue increase over the past two financial years to Rs 213 crore in FY24. However, the net loss was reduced by 57 percent to Rs 110.42 crore in the same duration. The data intelligence platform, tracxn mentioned that the startup had secured over 287 million USD across multiple funding rounds since its inception, including $8.8 million raised during its series D funding round led by Iron Pillar and others. The data intelligence platform, tracxn also posted the company’s post-money valuation is around 554 million USD.
The Noida startup provides features like attendance tracking, fee records, insightful student reports, and a parent communications module. The online platform uses cutting-edge technologies to offer quality content and the best learning experience. This edtech startup provides users with various video courses and instructors with software solutions.
The legal, information technology and other expenses decreased to Rs 375.7 crore in FY24. Advertising and promotional saw a 7.3 percent decline in the same duration. The company receives its investment from investors including Tiger Global, Blume Ventures, GSV Ventures, Alpha Wave, and RTP Global.
The company aims to improve its platform and offer innovative learning and software solutions to position itself well in the edtech market. The employee benefits account for 54% of the total expenses and decreased by 12% to Rs 201.7 crore in FY24. The company controlled its losses by 57 percent to Rs 110.4 Crore this financial year through cost-cutting measures.
The sale of SaaS tools and software accounts for 96.6 percent of the total operating revenue of Rs 205.5 crore for this fiscal year. The EBITDA margin also improved to -35.99 percent while ROCE was around -15.26 percent in FY24. Classplus faces competition from other course creation platforms such as Thinkfic, and teachable.
Conclusion :
The Course creation platform offering edtech startup Classplus announced a 108.3 percent increase in its operational revenue to Rs 212.6 crore in FY24. This online platform offers several solutions including attendance tracking, parent communication module, student reports, and fee records. The sale of SaaS and software services is the firm’s primary source of revenue.
The loss also decreased by 56.9 percent to Rs 110.42 crore in FY24. The employee benefits decreased by 12 percent to Rs 21.7 crore in FY24 including ESOP cost of Rs 38.5 crore. The startup minimized its loss by 57 percent following the two-fold growth and controlled expenditure. The company has secured over 287 million USD across multiple funding rounds to date.
Hi, This is Scoopearth’s admin profile. Scoopearth is a well-known Digital Media Platform. We share Very Authentic and Meaningful information based on Real facts and Verification related to start-ups, technology, Digital Marketing, Business and Finance.
Note: You can reach us at support@scoopearth.com with any further queries.
Linkedin Page : https://www.linkedin.com/company/scoopearth-com/
Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.