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Conventional learning and teaching methodologies result in several inadequacies when it comes to imparting education. The major problem with classroom education is that it is never equipped enough to match every student's learning pace and abilities.
Vedantu resolves this problem through personalized, 'live' online tutoring. Vedantu ensures every student associated with it is under the guidance of a dedicated teacher, and that every session on its platform is interactive, intuitive, and interesting. Launched in 2011, Vedantu has become immensely popular among students. It has mentored over 40,000 students from all over India.
Read on to know more about Vedantu's founders, success story, business model, revenue, tagline, funding, and competitors.
Vedantu Highlights
| Startup Name | Vedantu |
|---|---|
| Headquarters | Bangalore |
| Founders | Vamsi Krishna, Pulkit Jain, Saurabh Saxena, and Anand Prakash |
| Sector | Edtech |
| Founded | 2011 |
| Parent Organization | Vedantu Innovations Private Limited |
| Website | vedantu.com |
Vedantu - Latest News
About Vedantu
Vedantu - Founders
Vedantu - Vision and Mission
Vedantu - Name, Tagline, and Logo
Vedantu - Funding and Investors
Vedantu - Business Model
Vedantu - Achievements
Vedantu - Competitors
Vedantu - Growth and Revenue
Vedantu - Future Plans
Vedantu - FAQs
Rishabh Rathi
Vedantu - Latest News
June 16, 2021 - Vedantu is looking to bring some fresh investments of around $150 million very soon to raise the total valuation of the company to $1 billion. However, the talks are at an initial stage and nothing else is disclosed as of now.
February 22, 2021 - Vedantu acquires Instasolv, a doubt-solving platform for the students of Classes 6-12, completing its first major in the edtech space.
February 4, 2021 - Vedantu announced that the edtech platform has delivered around 70 million hours of content to the students and learners in 2020. The Youtube channel of the company also saw massive growth, with 510 million hours of yearly views. Besides, the live sessions also received a renewed boost owing to the online drive as an aftermath of the pandemic.
About Vedantu
Vedantu is India’s leading edtech startup in the domain of online tutoring. It offers personalized coaching for students of grades 6 to 12 with highly skilled teachers guiding them. Vedantu's efficient, customized teaching methodologies include two-way audio, video, and white-boarding technologies to enhance the learning outcomes with live student-teacher interactions. It caters to students for competitive examinations and co-curricular modules as well. The cooperative sessions keep the students engaged according to the pace of the lecture, an aspect that is absent in recorded video lectures and classroom education. Vedantu offers video sessions that support even low internet bandwidth. With its powerful learning management tools and a holistic training approach, Vedantu appears to be the finest online educational service provider in the K-12 segment.
Devashish Shrivastava
Vedantu - Founders
Vedantu was founded by Vamsi Krishna (co-founder, CEO), Saurabh Saxena, Pulkit Jain (co-founder, head of product), and Anand Prakash (co-founder, head of academics).
Vedantu co-founder and CEO Vamsi Krishna completed his B.Tech from IIT Bombay in 2005 and co-founded Lakshya — an educational enterprise that prepares students for engineering and medical entrance exams — with three more IITians: Saurabh Saxena, Pulkit Jain, and Anand Prakash. The four individuals have mentored 10,000 students and trained more than 200 teachers through Lakshya. Vamsi, Saurabh, Pulkit, and Anand continued to work on Lakshya for nearly eight years until it was acquired by MT Educare in 2012.
The team of four started Vedantu in 2011. Saurabh Saxena, who was serving as the 'head academics', exited Vedantu in January 2018.
Vedantu - Vision and Mission
With highly trained teachers and a technology-driven academic setup, Vedantu ensures a great learning experience for each of its students. Vedantu focuses on providing quality education and a comprehensive analysis of student’s interaction and engagement in the class through online assessments and tests; hence, the progress of students is closely monitored. Through its instinctive, next-generation platform WAVE (Whiteboard Audio Video Environment), Vedantu fulfills its objective of fostering online education in an unparalleled manner.
Vedantu's vision is to transform the teaching and learning experience through the synergy of superior technology with worthy content and proficient teachers.
Rishabh Rathi
Vedantu - Name, Tagline, and Logo
The name ‘Vedantu’ is the result of combining the words 'Veda' and 'Tantu'. 'Veda' means knowledge and 'Tantu' means network; thus, Vedantu acts as a network of wisdom. Vedantu's tagline is “Live Online Tutoring”.
Vedantu - Funding and Investors
Vedantu has raised around $190.9 million in funding to date. Vedantu had 3 rounds of funding in 2020. This surge can be attributed to the growing importance of the edtech segment, courtesy of the COVID-19 pandemic.
Furthermore, the company is aiming to raise $150 million from a fresh round of funding in 2021, according to the sources close to the Vedantu on request of anonymity. The round would be led by the existing investors that include Coatue, Tiger Global, and Accel among others. The talks are at an initial and with no term sheet disclosed as of now.
The table below provides a detailed description of the funding raised by Vedantu so far:
| Date | Stage | Amount | Lead Investors |
|---|---|---|---|
| July, 2013 | Pre-seed Round | $150K | Ramaswami |
| August, 2014 | Seed Round | $400K | - |
| May, 2015 | Series A | $5 Million | Accel, Tiger Global Management |
| November, 2018 | Series B | $11 Million | Accel, Omidyar Network, TAL Education Group |
| August, 2019 | Debt Finacing | $1.3 Million | Trifecta Capital Advisors |
| August, 2019 | Series C | $42 Million | Tiger Global Management, WestBridge Capital |
| February, 2020 | Series C | $24 Million | GGV Capital |
| April, 2020 | Series C | $7 Million | KB Global Platform Fund |
| April, 2020 | Series C | $12.56 Million | Legend Capital |
| July, 2020 | Series D | $100 Million | Coatue |
Vedantu - Business Model
Vedantu operates on a B2C business model whereby the company provides services like online live tutoring — using a virtual learning environment called WAVE (Whiteboard Audio Video Environment) — to students in the K-12 segment. Vedantu also offers online tutoring to students for various competitive exams.
Rishabh Rathi
Vedantu - Achievements
Vedantu was recognized as the 'Best Organization to Develop Technology for Education' by DNA Innovative Education Awards in February 2016. It was also one of the winners of 'KINSES 2016 EduAwards'. Elets World Education Summit awarded Vedantu the title of 'Online Education Startup of the Year', and Praxis Media presented the 'Most Promising and Live Online Tutoring Platform in India' award to Vedantu in 2015.
Yash Gupta
Vedantu - Competitors
Vedantu's top competitors are Byju’s, Toppr, Unacademy, UrbanPro, WizIQ, Tutorvista, and Flipclass. New rivals are emerging every other day with the advancements in the edtech segment.
Vedantu - Growth and Revenue
Vedantu generates revenue by providing paid educational services. It recorded $10 million in revenue recently. The revenue increased by 97% from INR 5.3 crores in FY18 to INR 10.44 crores in FY19.
Vedantu offers subscriptions ranging from INR 100 to INR 5000 for different grades and also provides courses for competitive examinations such as JEE, NEET, NTSE, IMO, PSA, KVPY, and others. The company utilizes its revenue for various operations like acquiring talented teachers, advertisements and promotions, and employee benefits expenses to support its growth. The edtech startup that initially had a skeleton crew of four friends now has around 1328 employees; a 133% increase from 2019.
On July 15, 2021, Vedantu acquires Pedagogy, an edtech startup from Ahmedabad in a cash and stock deal. This is the second acquisition by Vedantu after it has acquired Instasolv, a doubt-solving platform, in February this year. According to the fillings by Vedantu, both the companies have agreed to share the purchase agreement where Vedantu will be acquiring a 100% stake in Pedagogy across five tranches.
Yash Gupta
Vedantu - Future Plans
Vedantu's future plans include the creation of distinct categories for primary children, starting from kindergarten. Infusing learning with enjoment and making learning accessible to the students of remote areas is Vedantu's supreme strategy. With 1 million lifetime learners and 4x growth in 2020, the company will explore new prospects and engage in expedient educational services in the future.
Vedantu eyes $200 million by next year's June, disclosed the company on Friday, June 25, 2021. The company has already witnessed around a 4x increase in its revenue run rate on May 2021 and is currently operating at a revenue run rate of USD 60 million. Vedantu, which is competing with biggies like Byju's, has also seen its month-on-month revenue grow 50% in April and May 2021.
“Impact at Scale is our singular driver. With a core focus on Learning Experience and Outcomes, the impact that we have had on our learners drives us in our next phase of exponential growth. As we continue to grow our student enrolments by 4.5x year on year, we are gearing to invest in brand and entering very strongly in new categories of age group 4-10 years beyond current customer segments. We are excited to have GGV Capital back us, as a unique VC firm that has backed some of the world’s most successful companies, this is a huge validation for Vedantu. We want to further our mission to make this new format of LIVE Interactive classes the answer to the current engagement gaps in Online education and are very excited about the future,” said Vedantu CEO Vamsi Krishna while revealing the company's future plans after the GGV funding round in February 2020.
Michelle D’souza
Vedantu - FAQs
What is Vedantu's Tagline?
Vedantu's tagline is “Live Online Tutoring”.
Who are the Founders of Vedantu?
Vedantu was founded by Vamsi Krishna (co-founder, CEO), Saurabh Saxena, Pulkit Jain (co-founder, head product), and Anand Prakash (co-founder, head academics).
How much is Vedantu's Revenue?
Vedantu generates revenue by providing paid educational services. It recorded revenue of $10 million recently. Vedantu's revenue increased by 97% from INR 5.3 crores in FY18 to INR 10.44 crores in FY19.
Who are the Top Competitors of Vedantu?
Vedantu's top competitors are Byju’s, Toppr, Unacademy, UrbanPro, WizIQ, Tutorvista, and Flipclass.
Author: Himaya Presthitha
Source : https://startuptalky.com/vedantu-success-story/
Date : 2021-07-15T06:16:00.000Z