India-based digital maths tuition provider Cuemath has pulled in $40m through a series C round backed by CapitalG the growth equity arm of internet and technology group Alphabet, Entrackr reported on Monday.
Impact investor Lightstone Fund and asset manager Falcon Edge Capital’s Alpha Wave Incubation fund co-led the round, which also featured venture capital firms Sequoia Capital India and Manta Ray. CapitalG provided $5m, according to a regulatory filing seen by Entrackr.
Cuemath offers online after-school maths classes designed to help children develop mathematical thinking and overcome the issues typically associated with traditional learning. It has provided more than 25 million math classes to a total of more than 40,000 students, according to its website.
The company received $2.9m in debt and equity financing from Trifecta Capital in July this year. It had raised $5.5m in a December 2019 extension to its series B round led by Manta Ray Ventures, after CapitalG led the $15m first close in 2017, investing alongside Sequoia India.
Cuemath had secured $4m in series A funding from Sequoia India and investment firm Unitus Seed Fund in 2016, Unitus also having invested in its 2014 seed round alongside angel investor Alok Mittal.
This story was amended on February 5, 2021 to reflect a subsequent press release confirming the round.