New Delhi [India], Oct. 24 (ANI): Toppr, a comprehensive mobile app for personalized learning for school students raised Rs. 45 crore in its second round of Series B funding, led by its existing investors SAIF Partners, Helion Ventures and FIL Capital Management, to be channelised towards expanding its geographical footprint and accelerate user acquisition.
Toppr had raised a cumulative USD 12 million in May 2014 and 2015 in its Seed and Series B funding rounds, and used those funds to fuel the adaptive platform with over two million registered users, and over one million app downloads.
The platform's community of 8000 odd educators from across the country has contributed one million learning pieces, including questions, solutions, concepts, and videos for the students signed up on the app.
Users spend nearly two hours a day on the platform and 90 percent students renew their subscriptions when going to a new class.
"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," said CEO and founder Toppr, Zishaan Hayath.
The company is pursuing aggressive expansion plans to reach out to students across the country and open centers in 30 cities by December 2017. Toppr projects 20-fold growth in its junior grades and 15-fold growth in its senior grades subscription by 2021, making it a company with over USD 500 million in revenue in the next four years. (ANI)