Company plans to utilize the funds to hire across major functions such as product, technology, operations and more
PANJIM, India, Nov. 8, 2021 /PRNewswire/ — BrightChamps, a global platform for kids to learn next-generation skills, has recently announced that it has raised $63 Mn to emerge as one of the fastest growing Edtech startups to reach a valuation of nearly half a billion dollar in little over a year.
The investment round saw contributions from multiple marquee investors across geographies such as Premji Invest – well-known private equity investor, GSV Ventures – Edtech-focused Venture Capital firm based out of USA, Binny Bansal backed 021 Capital and Singapore-based BEENEXT.
Founded by Ravi Bhushan in July last year, BrightChamps aims to empower kids across the globe in the age group of 6 to 16 years with important next-generation life skills through its adeptly crafted live learning program which complements the school curriculum, fuels the latent talent of the children and grooms them towards the future success in alignment with their natural abilities and inclinations.
The company, born out of UAE at the peak of the pandemic, received amazing adoption of this new age curriculum among the students and parents. Higher per capita income, educationally well aware family structure along with push of government through celebration of technology-related events in school helped drive the initial adoption. Soon, the company realized that it is a global need and rapidly expanded to other countries across the world. In less than 10 months of its inception, the company established its market leadership in over 10 countries with an outstanding booking run rate. There are currently over a hundred thousand registered students, spending more than 6 million minutes of live learning every month on the platform. These students are mentored by close to a thousand online instructors spread across the world. Most incredible part about their journey is that this unprecedented growth was achieved profitably by the company, without consuming any external capital so far. Talking about their global focus and excellent execution, Deborah Quazo, managing partner at GSV Ventures, remarked, “BrightChamps is building a ‘weapon of mass instruction’ serving students all over the world.”
Ravi Bhushan, the founder and CEO at BrightChamps, commented, “BrightChamps was conceptualized with a single thought – What would the youngsters tomorrow need to excel in this fast-changing dynamics of the modern world?
We felt that there is an immense need for a unique curriculum which can fill the gaps in current education system while aligning with a child’s learning abilities as per their necessity of the age. We have been stunned with the love we have received so far from parents and students across different countries.”
Now with more firepower in their warchest, the company will also expand to other relevant verticals by launching more courses and will also look to acquire new companies in adjacent markets.
