Cuemath, one-on-one online maths tutoring platform, raised $57 million in a funding round led by Alpha Wave and witnessed participation from existing investors, including Lightrock India, Sequoia Capital India, Alphabet, CapitalG, Manta Ray and Unitus.
Cuemath will use the funds will to strengthen product-pedagogy outcomes, hypergrowth initiatives, acquisition and partnerships.
“Cuemath’s latest fundraise is a significant feat given the present industry trends. Valuations have become more realistic with rationalization hitting the market; only those growth-stage start-ups with solid business fundamentals can now establish trust with VCs. Therefore, this substantial inbound interest from all our existing investors validates Cuemath as a knowledge expert in the global after-school maths tutoring market and signals acknowledgment of the developments over the past few quarters,” Vivek Sunder, CEO at Cuemath, stated.
The platform is currently present in more than 70 countries and aims to expand to over 100 countries by 2023. The expansion plan includes its presence in North America, APAC, UK, Europe, the Middle East and Africa and South America.
“Cuemath’s ability to successfully deliver outstanding learning outcomes through its proprietary platform and top-tier pedagogy has continued to impress us. Not only in India, its success in key international markets like the US, UK, Middle East and Singapore, while maintaining high-quality unit economics differentiates the company in a competitive and dynamic EdTech market. We are excited to lead this investment as Cuemath deepens its penetration across global markets,” Anirudh Singh, MD at Alpha Wave Global, said.
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