Math learning startup Cuemath has raised $15 million in its Series B round of funding from CapitalG and Sequoia India. CapitalG (formerly known as Google Capital), the growth equity investment fund of Alphabet (Google’s parent company), led this round of funding.
When asked about the rationale behind this investment, Kaushik Anand, CapitalG’s head of India Investments, said, “We believe technology can help solve the strong desire and need for quality education. And Cuemath has scaled with great unit economics and capital efficiency. We are happy to be supporting Cuemath on the quest of transforming the way math is experienced by children across the globe.”
Cuemath is an after-school math excellence program for children in KG to grade 8 and is offered through home-based centres. Cuemath strives to make children great at math with the belief that math can transform a child’s future. The centres are managed and run by trained and certified Cuemath Teachers who share Cuemath’s vision of math excellence. Founded in 2013, Cuemath now has over 2,000 centers educating more than 10,000 students across the country.
By March 2018, Cuemath aims to establish 5,000 centers and enroll 40,000 children in the program. The funds raised will be utilised towards making the learning system more powerful and expanding to more cities across the country.
According to Manan Khurma, Cuemath’s founder and CEO, “Math is the skill of the future. Given the way technology is evolving, the most valuable ability in just a few years from now will be that of complex problem-solving, and the best way to build that ability is to build a strong and holistic math foundation…”
Cuemath says it is creating high impact across two very distinct demographics. On one hand, they are making thousands of children great at math and promising to build the next generation of thinkers. On the other, they are offering a prestigious home-based career opportunity to educated women who are looking to switch, restart or kick-start their careers. Many women who chose to become Cuemath Teachers are now financially independent, earning significant incomes through a home-based occupation which is very meaningful, has immense impact and gives them great pleasure.