BrightChamps Raises $63M
The company managed to establish its market leadership in over 10 countries with an outstanding booking run rate.
BrightChamps, a global platform for kids to learn next-generation skills has recently announced that it has raised $63 Mn mn, to emerge as one of the fastest growing Edtech startups to reach a valuation of nearly half a billion dollars 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 - investor and Co-Founder Flipkart, Bangalore based 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 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.
In less than 10 months of its inception, the company managed to establish its market leadership in over 10 countries with an outstanding booking run rate. Currently, over a hundred thousand registered students are 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 the journey of BrightChamps is that this unprecedented growth was achieved profitably by the company, without consuming any external capital so far. The exceptional journey made Binny Bansal, Founder of Flipkart, remark “With its exceptional business growth and deeply passionate team of leaders and educators, Brightchamps is well-positioned to emerge as a global leader in the EdTech industry. Their meticulously curated curriculum and blended approach are designed to spark scientific curiosity and exploration in early learners, allowing them to master new-age skills at their own pace.”
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 the 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.”
Since its inception, the company realized that their curriculum is a global need and has been solving it for students across the world. Talking about the company's global focus, Deborah Quazzo, managing partner at GSV Ventures, stated that "Brightchamps is a poster child for a high ROE (Return on education) company and is leading the disruptive wave which will make India one of the largest exporters of transformative digital education.”
The company, being born in the pandemic, is practically headquartered on Slack with the majority of its workforce operating remotely. The leadership team is based out of Goa and is building a cross country talent pool of experienced professionals from fast growing startups and premier institutes. Adjusting to the new normal, the company is looking forward to opening its centre of excellence in Bengaluru for employees who are looking to work in the hybrid model. Company plans to utilize the funds to hire across functions such as product, technology, growth, content, operations, sales, marketing and business development and build a team of superlative quality. With excellent employee reviews across widely read platforms, BrightChamps envisions to be one of the most sought-after places to work providing unparalleled growth, ownership and exposure.
T K Kurien, Ex CEO of Wipro and Managing partner at Premji Invest, said "In little over a year, Brightchamps has established itself as one of the fastest growing Ed tech companies in the markets that it serves in. Leveraging Human Resources globally to deliver personalised experiences, along with a unique ability to hyper differentiate learning pathways, Brightchamps is on the path to prove that the power of data and learning can be combined for differentiated outcomes.”
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.
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