India-based mathematics education provider Cuemath has collected $15m in a series B round led by CapitalG, a subsidiary of internet conglomerate Alphabet.
CapitalG, known as Google Capital until November 2016, was joined by Sequoia Capital India, a subsidiary of US-based venture capital firm Sequoia, also invested in the round.
Founded in 2013, Cuemath operates an after-school maths program for children ranging from kindergarten age to age 14. Cuemath-certified teachers run the schemes from their own homes using materials developed by the company’s in-house team.
Unlike traditional tutoring, which focuses on preparing students for tests, Cuemath says it aims to nurture longer-term mathematical ability in children so that they come to love the subject and develop lifelong skills.
Students attend three one-hour sessions a week at a teacher’s home, where they are taught in small groups capped at eight people. Cuemath uses data analysis and technology to help teachers determine key learning objectives and monitor each student’s progress.
The funding will be used to improve Cuemath’s learning system and expand the business. More than 10,000 students now attend Cuemath classes at over 2,000 tutors’ homes – billed as “learning centres” – in Bangalore, Chennai, Delhi, Hyderabad, Mumbai and Pune.
Cuemath plans to enroll 40,000 children in more than 5,000 learning centres by March 2018. Teachers who sign up with Cuemath can earn up to Rs 40,000 ($580) a month by working from home, according to the company’s website.
Kaushik Anand, head of India investments at CapitalG, said: “We believe technology can help solve the strong desire and need for quality education…Cuemath has scaled with great unit economics and capital efficiency.”
Sequoia India and investment firm Unitus Seed Fund contributed to Cuemath’s $4m series A round in June 2016. Unitus previously backed Cuemath’s seed round in 2014 along with angel investor Alok Mittal.