Classplus Eyes 65% Revenue Growth, Nears Profitability

Classplus, a B2B edtech firm, anticipates a 65% revenue increase to over Rs 250 crore in FY 2024, attributed to its operational efficiency and content creator partnerships. The company, nearing profitability, has reduced its losses significantly. It aims to continue this growth through new acquisitions and enhanced services.

Classplus, a prominent B2B edtech firm, is projecting a remarkable 65% growth in revenue, potentially surpassing Rs 250 crore in the financial year 2024, according to a senior company official.

Backed by Tiger Global and Peak XV Partners, the firm is on the verge of profitability, driven by improved operational efficiencies.

"In FY24, Classplus has achieved significant milestones, expecting revenues to reach over Rs 250 crore (unaudited), a 65% increase from Rs 149 crore in FY23," said Mukul Rustagi, co-founder and CEO. "We've also made substantial progress towards profitability, reducing our losses by 70% to around Rs 80 crore."

Classplus empowers content creators and educators to monetize their social media by facilitating online coaching businesses. The firm has contributed to a vast number of live classes and a significant increase in earnings for its partners.

The company has secured approximately USD 150 million through seven funding rounds from global investors like Tiger Global, Blume Ventures, and Sequoia Capital India, among others.

Rustagi noted, "Our latest series D round valued the company close to USD 565 million, raising USD 65 million. Impressively, much of the cash from our last funding remains in the bank as we edge towards profitability."

Classplus' services include AI-enabled marketing tools, campaign analytics, book publishing, merchandise launching, paid sessions, and no-code website creation, benefiting a wide range of content creators.

"The rise of the creator economy has seen diverse professionals use Classplus, expanding our business significantly," Rustagi added.

Notably, 78% of Classplus creators hail from tier 2 and beyond cities, impacting students in remote areas. The company aims to enhance its content creator offerings through acquisitions and strategic partnerships.

Investments in vernacular test preparation companies and the launch of Polaris School of Technology, offering an industry-ready BTech course, highlight Classplus' commitment to innovation and skill development.

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