Edtech firm Camp K12 raises $12 mn in Series A led by Matrix Partners India, Elevation Capital

Edtech firm Camp K12 raises $12 mn in Series A led by Matrix Partners India, Elevation Capital

PTIUpdated: Thursday, August 26, 2021, 11:08 AM IST
article-image
Camp12 plans to use funds to hire leaders across functions, hyperscale operations, marketing, and to build engineering and product teams./Representative image | Representative Pic

Gurugram-based edtech firm Camp K12 on Thursday said it has raised $12 million funding in series A round led by Matrix Partners India and Elevation Capital.

The company plans to use funds to hire leaders across functions, hyperscale operations, marketing, and to build engineering and product teams.

"We are able to establish our product leadership in every category and geography we have forayed into, be it India, Middle East, or the United States. This series A Investment will accelerate our expansion and we are beefing up our team with experienced doers from business, sales, marketing, product, operations and engineering," Camp K12 co-founder Sandeep Bhagi said.

The company claims that its US business has grown two times month-on-month over the past three months. In the Middle East, Camp K12 claims to have registered three times month-on-month growth.

Over the next six months, the company will add two new geographies and one new content category, and will deepen its reach in each existing geography via a group class format that in India already accounts for over 25 per cent of revenues, the statement said.

"We have seen Camp K12 successfully using technology to own quality and end-to-end experience, and to evolve a new pedagogy for online learning. Their investment in product research and development has also allowed them to nimbly expand into new categories and geographies and to rapidly scale small group classes as a format," Elevation Capital partner Mukul Arora said.

Camp K12 connects students in the 5-18 age group across the globe with teachers for live, interactive online courses across essential skill categories such as coding and English.

"We are excited for the next leg of growth as we co-invest with Elevation Capital in this round," Matrix India managing director Vikram Vaidyanathan said.

RECENT STORIES

King Of Crypto In Jail: Sam Bankman-Fried Imprisoned For 25 Years

King Of Crypto In Jail: Sam Bankman-Fried Imprisoned For 25 Years

Skoda Superb Poised For Return To India – Speculated Launch On April 3!

Skoda Superb Poised For Return To India – Speculated Launch On April 3!

MGNREGA Wage Surge: Centre Announces 3-10% Wage Increase For Rural Workers; Haryana Tops At...

MGNREGA Wage Surge: Centre Announces 3-10% Wage Increase For Rural Workers; Haryana Tops At...

Banks To Stay Open On Sunday: Upon Government Request, RBI Asks Lenders To Function On March 31

Banks To Stay Open On Sunday: Upon Government Request, RBI Asks Lenders  To Function On March 31

Stock Market News: Indian Indices To Remain Shut Today On Account Of Good Friday

Stock Market News: Indian Indices To Remain Shut Today On Account Of Good Friday