Cuemath Doubles Its Valuation With $57 Million Fundraise The fund raised will be utilized for strengthening product-pedagogy outcomes and to drive the company's goal to reach 100 countries by FY23
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Cuemath, a global one-on-one online math tutoring platform, has raised $57 million in a funding round led by Alpha Wave, doubles its total valuation to $407 million. The fund raised will be used to strengthen the product-pedagogy outcomes, hypergrowth initiatives, acquisitions and partnerships and catalyze its efforts to build a strong global math brand.
"Cuemath's latest fundraise is a significant feat given the present industry trends. The platform has shown promising growth since the last funding. Product innovation and personalization coupled with a low capex model augmented our global scale-up and beefed our conversion rate by three times," said Vivek Sunder, CEO, Cuemath.
As per the company statement, Cuemath is currently present in more than 70 countries. It aims to expand over 100 countries by FY23 that includes North America, APAC, UK, Europe, Middle East and capturing markets in Africa and South America. Its mission is to create the next generation of invincible problem solvers.
"Cuemath's ability to successfully deliver outstanding learning outcomes through its proprietary platform and top-tier pedagogy has continued to impress us. We are excited to lead this investment as Cuemath deepens its penetration across global markets," said Anirudh Singh, MD, Alpha Wave Global.
Founded in 2013, Cuemath is an after-school online math program for KG to 12th grade students. The teaching methodology combines 1:1 group instruction with engaging puzzles, interactive visuals to teach math as intuitive logic and has a self-paced curriculum keeping the learning pace of students in mind.