Newton School Secured $25 Million In Series B Funding Round Led By Steadview Capital
The fund will be utilised to accelerate the company's growth and support plans to expand technology, people and processes
Newton School, an edtech startup, has raised $25 million in Series B funding round, led by Steadview Capital. The funding round also witnessed participation from Nexus Venture Partners and RTP Global. The fund will be used to accelerate the company's growth and expand its team, technology and for the brand building initiatives.
"This fundraise will enable us to build a strong brand and leadership team while investing in innovative technologies like AI to transform education," said Siddharth Maheshwari and Nishant Chandra, co-founders, Newton School, in a joint statement.
In just two years, the neo-university has successfully placed more than 1,500 aspirants in over 600 companies including Google, Lenskart, Razorpay, Flipkart, Deloitte and Zomato. With an aim to provide flexible learning to working professionals, it recently launched a Master's degree program for people from non-tech backgrounds. Newton School aims to reach 100 million in annualized run rate by 2023, according to the statement by the startup.
"We are confident in Newton School's growth potential and are proud to partner with them in addressing crucial needs in the Indian education sector," said Puneet Kumar, managing director, Steadview Capital.
Founded in 2019 by Nishant Chandra and Siddharth Maheswari, Newton School is an edtech platform that enables people to up skill and become high quality software developers. It also aims to create a seamless tech hiring infrastructure for companies.
According to reports, the global edtech market size is expected to grow at a CAGR of 16.1 per cent by 2025.