
Sequoia, Unitus back $4m Series A for India’s Cuemath
Sequoia Capital and Unitus Seed Fund have invested $4 million in a Series A round of funding for Indian education network operator Cuemath.
According to a statement, the capital will be used to expand the company's math and logic learning program both within India and internationally. This effort will target up to five-fold growth in the number of teachers and 20-fold growth in the number of students by the end of March 2017.
Cuemath offers a technology-driven content platform which combines adaptive, gamified learning techniques with a curriculum that focuses on a learning-by-doing methodology. Scalability for the service is underpinned by a home-based business model which currently employs about 1,200 educated homemakers as teachers.
"Cuemath's USP [unique selling position] lies in their innovative distribution model," said Abheek Anand, principal at Sequoia. "This is a company that marries strong performance with a mission to solve a very real problem faced in this country today - how to enable millions of educated, talented women to employ their skills from the flexibility of their home."
Unitus made a seed-stage investment in Cuemath in 2014, targeting a gap in India's $14 billion after-school instruction market between expensive branded services delivered in classrooms and informal un-branded services delivered from the homes of current and retired teachers. These more traditional options are typically unaffordable to low and mid-income families and considered insufficiently individualized to meet specific educational needs.
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