Eupheus Learning, a business-to-business (B2B) edtech startup, on Tuesday said it has acquired ClassKlap in an all-stock deal at a valuation of $19 million (Rs 140 crore).
Bengaluru-based ClassKlap, which also operates in the B2B edtech segment, offers a school-based personalised curriculum programme to over 800 affordable private schools across India.
While Eupheus Learning has been focused on premium schools, ClassKlap is into affordable private schools. The combined entity shall now have an outreach of 18,000 schools.
“…Now we will move into the affordable school space. This will not just drive economies of scale but also shape future innovation in the learning domain with analytics. It will also enhance the traditional channel of servicing schools by introducing hybrid solutions and their delivery in the curriculum and supplemental space,” said Amit Kapoor, co-founder of Eupheus Learning.
“We are better placed now to focus on delivering personalised solutions to students, aiding their overall development through integrated curricular and co-curricular solutions – one of the major mandates of National Education Policy (NEP) 2020,” Kapoor added.
Delhi-based Eupheus Learning last week said it had raised $10 million in a Series C funding round from private equity firm Lightrock India. The startup was founded by Sarvesh Shrivastava, Ved Prakash Khatri and Kapoor in June 2017.
“With this integration, ClassKlap can unlock greater potential in the premium school segment. Moreover, with our personalisation technology and learning analytics focus, our combined ability to transform classroom learning using student data can be massively scaled up,” said Varun Kumar and Naveen Mandava, co-founders of ClassKlap.
With the consolidation of ClassKlap, Eupheus Learning said LGT Aspada and Michael and Susan Dell Foundation will join its cap table along with its existing investors Sixth Sense Ventures, Yuj Kutumb, United Education Company and Al Ryan Holding Company.