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Edtech platform Cuemath has raised $57 million in a fresh round led by Alpha Wave at a valuation of $407 million, a two fold jump in valuation. The funds will fuel strengthening product-pedagogy outcomes, hypergrowth initiatives, acquisition and partnerships, and catalyse its efforts to build a global math brand.
The fundraise also included all existing investors, including Lightrock India, Sequoia Capital India, Alphabet independent growth fund CapitalG, Manta Ray, and Unitus.
‘Promising growth’
Vivek Sunder, Chief Executive Officer (CEO), Cuemath, said, “Cuemath has shown promising growth since the last funding. Product innovation and personalisation coupled with a low Capex model augmented our global scale-up and beefed our conversion rates by 3X.”
Currently present in more than 70 countries, Cuemath aims to expand to over 100 countries by FY23. This plan includes bolstering its presence in North America, Asia-Pacific (APAC), the United Kingdom, Europe, Middle East, and capturing markets in Africa and South America.
Anirudh Singh, Managing Director (MD), Alpha Wave Global, said, “High-quality adept teachers addressing a global need for specialised focus on math tutoring create a strong flywheel effect. We are excited to lead this investment as Cuemath deepens its penetration across global markets.”
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