Toppr, the comprehensive mobile app for personalized learning for school students, has raised INR 45 Cr in its second round of Series B funding, led by its existing investors SAIF Partners, Helion Ventures and FIL Capital Management. Toppr had raised a cumulative USD 12 million in May 2014 and May 2015 in its Seed and Series B funding rounds, and has used those funds to fuel the adaptive platform with over 2 million registered users, and over 1 million app downloads.
The platform’s community of 8000+ educators from across the country has contributed 1 million learning pieces, including questions, solutions, concepts, and videos for the students signed up on the app. Users spend nearly 2 hours a day on the platform and 90% students renew their subscriptions when going to a new class. Toppr has shown excellent user retention and financial sustainability.
Commenting on the funding round, Zishaan Hayath, CEO & Founder, Toppr stated, “This is a second round of series B funding by our existing investors. It is the reflection of our healthy unit economics and a reinforcement of the belief that the investors have in us. This capital will be used to expand the geographical foot print and accelerate user acquisition. We expect this capital to take us to full profitability.”
Toppr has become India’s most comprehensive education platform for classes 5 to 12 by building personal learning and technology products that work hard for each of its users. Having cleared 11 lakh doubts, providing 90 lakh tests, and with 11 crore practice questions answered, the platform has been able to enhance the learning experience of thousands of Indian students. The company pursuing aggressive expansion plans, to reach out to students across the country and open centres in 30 cities by December 2017. Toppr projects 20x growth in its junior grades and 15x growth in its senior grades subscription by 2021, making it a company with over USD 500 million in revenue in the next 4 years.