Teachmint, a leading ed-infra and online teaching platform has acquired the Indian arm of Singaporean edtech Teachee, a course-selling platform that enables teachers to sell educational products like online courses; marking its second buyout this month itself.
With this deal, close to 20 members of Teachee’s India team will become a part of Teachmore by Teachmint, strengthening the company’s course-selling offering and enabling its community of millions of teachers to grow their online presence, according to the company's statement.
Post the acquisition, Teachee’s India country manager, Aakash Kasaundhan, has joined the company as a Senior Director, and will be leading the platform’s business growth. This acquisition comes at a time when the Teachee platform is being discontinued globally.
Launched in India in October 2020 by Vlight Technology Pte, a Singapore-based firm. Teachee is an innovative and highly secured online live streaming education platform where teachers can teach anywhere using their personal computers or desktops and students can have an immersive live learning experience anytime with their smartphones. The company's vision is to become the most widely used SaaS platform for educators in the region.
With online education gaming momentum in the country, Teechee is uniquely placed to help educators build a successful practice. The startup's revolutionary platform lets educators design a fully branded website without having the need of any prior technical background.
Commenting on the acquisition, Co-founder and CEO of Teachmint, Mihir Gupta, said, "We are very happy to welcome the Teachee team to the Teachmint family. This acqui-hire will aid the expansion of our course-selling offering and help deliver even more value and innovation to our teachers. With the aim of scaling our user base from 10 million to 100 million and beyond, we are laser-focused on increasing our team strength and bringing the best talent on board. This acqui-hire gives us a great boost and we are well-positioned to revolutionize the growth and monetisation opportunities for educators and creators."
The latest acquisition of Teachmint's comes right after the company acquired Teachmore, a course-selling platform that enables teachers to sell educational products like online courses, live classes, quizzes and more through their apps and websites.
Teachmint, co-founded in May 2020 by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar - alumni of IIT Bombay and IIT Delhi, focuses on tutor-student interaction, providing mobile-first and video-first teaching platforms to assist teachers in digitizing their classrooms. The platform is used in over 5000 cities and towns across the country and has over 10 lakh teachers on its platform. It is available in over 15 Indian and worldwide languages in addition to English.
With adoption from more than 4,000 educational institutes in India and multiple international EdTech partnerships, the company's sole aim is to significantly increase teaching efficiency, reduce costs and increase the student base for existing teachers. Teachmint is supporting new individuals to create teaching businesses from scratch across domains like K-12 tutoring, test prep, and extra-curricular learning.
Earlier, Teachmint had announced a partnership with Kuala Lumpur-based EdTech startup Pandai to deliver classroom solutions to over 5 million students in Malaysia through its live class technology.
Teachmint had last raised $78 million in its Series B funding round led by Rocketship.vc and Vulcan Capital in October this year. Prior to that, the online tutoring platform had raised $20 million (Rs 149.4 crore) in a pre-Series B funding round led by global edtech-focused VC firm Learn Capital in July 2021. To date, the company has raised $118 million, the statement said.
Last month, Teachmint also announced a plan to enable its employees to liquidate their vested ESOPs (employee stock ownership plans) against cash at any point of time over a year.