For the Love of Maths Cuemath's mission is to be the global maths leader, unlocking the multitude of possibilities a strong maths foundation can provide for students across the globe.
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For generations, students have struggled to overcome their fear of maths, while educators have struggled to implement proper methods to define and measure the success of math education. This means that the demand to truly learn and master mathematical fundamentals is at an all-time high. Future jobs depend on a sound understanding of mathematics. More and more students and parents alike are turning to Cuemath to help their children engage with this critical subject. And this is evident from the fact that Cuemath's operating revenue ballooned 3.7X to around Rs 91 crore in FY21 from Rs 24.4 crore in the preceding year.
Besides doubling growth and raising multiple rounds of funding in the last fiscal, the year 2021 saw Cuemath streamlining operations in India and expanding to more than 50 countries. "We also set up an office in Abu Dhabi, and built cross-country teams in the US, the UK, and other international territories to drive global expansion," shares Manan Khurma, Chairman and Founder, Cuemath on the comapny's growth beyond borders.
In 2021 alone, Cuemath delivered four million hours of live maths classes — four million out of a total of 10 million hours since Cuemath pivoted to online learning in 2017 (from a primarily offline home-based tutoring model earlier). "Our plan for 2022 is to continue the journey of expansion- expecting to cross the 100-country milestone in 2022. Our area of focus going forward will be to build a strong global brand and to make the product more consolidated, personalised, engaging, and valuable," envisions Khurma.
Cuemath's mission is to be the global maths leader, unlocking the multitude of possibilities a strong maths foundation can provide for students across the globe. When it comes to their business model, Cuemath follows a franchise-based system where they provide teachers access to data, tools, learning materials, and syllabus to teach the students. They offer monthly as well as annual subscriptions up to K-12.
Cuemath's curriculum is intuitive, featuring visuals, games, puzzles, simulations, and innovative technology, like a whiteboard that makes maths easy and fun for students of all ages and levels. Their teachers are trained to work either 1:1 or with a small class. The 1:1 ratio gives students the attention they need to master concepts thoroughly and quickly. On how Cuemath is personalised for each child, Khurma says, "We adapt to children's educational requirements and teach at precisely the right pace. We like to call it "the Goldilocks zone" of maths: The problem isn't too complex, nor is it too easy. This way, we aim to train, equip, and empower the next generation of invincible problem solvers." So far, over 200,000 students have experienced Cuemath, with a growing team of over 10,000 tutors.
The EdTech industry has been hit by rationalisation, where valuations are now more realistic, funding/investment sizes are decreasing, and the industry is dealing with an employability crisis. Growth-stage start-ups with solid business fundamentals can attract VC interest and follow-on funding rounds. To this Khurma mentions, "We see our future growth as impactful and efficient rather than capital intensive since we are not chasing the high CAC approach to growth that bedevils many EdTech firms. We will continue to provide high-quality educational resources that align with our mission to be a Global Maths Leader - to portray trust, expertise, and freshness globally."
• Year of establishment – 2013
• No. of employees – 2000+
• Amount of external funding and leading investors – $121 million; investors include Lightrock, Alpha Wave Incubation, Sequoia Capital India, CapitalG (formerly Google Capital), and Manta Ray, Unitus among others.
• Average course fee - Differential rate plan depending on grades and personalisation
• No. of students taught - over 200,000
• Current valuation - $407 million
• Global presence – Over 50 countries