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Cuemath Doubles Its Valuation, Secures $57 M Funding Led By Alpha Wave

Cuemath aims to expand to over 100 countries by FY’23. This plan includes bolstering its presence in North America, APAC, the UK, Europe, Middle East and capturing markets in Africa and South America

Cuemath, the global one-on-one online math tutoring platform, has announced a fundraise of USD 57 million in a fresh round led by Alpha Wave at a valuation of USD 407 million – a more than 2X jump in valuation. The funds will fuel strengthening product-pedagogy outcomes, hypergrowth initiatives, acquisition and partnerships, and catalyse its efforts to build a strong global math brand.

Currently present in more than 70 countries, Cuemath aims to expand to over 100 countries by FY’23. This plan includes bolstering its presence in North America, APAC, the UK, Europe, Middle East and capturing markets in Africa and South America.

Responding to the latest investment, Vivek Sunder, CEO at Cuemath, commented, “Cuemath’s latest fundraise is a significant feat given the present industry trends. Valuations have become more realistic with rationalization hitting the market; only those growth-stage start-ups with solid business fundamentals can now establish trust with VCs. Therefore, this substantial inbound interest from all our existing investors validates Cuemath as a knowledge expert in the global after-school math tutoring market and signals acknowledgment of the developments over the past few quarters.

Cuemath 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 rates by 3X. With the best-in-class retention and acquisition engine, we have created a powerful combination of a sustainable and scalable business model.”

Manan Khurma, Founder & Chairman, Cuemath, said, "What distinguishes Cuemath from almost every other edtech company is that we focus on one thing and one thing only - deep math learning outcomes. In every Cuemath class, the student experiences a powerful and personalized combination of a highly visual math curriculum delivered by a rigorously trained, caring teacher. This has enabled Cuemath to have one of the best retention rates in the industry (80%), with half of all new admissions happening via referrals. These industry-leading metrics encouraged all our investment partners to support us yet again in our global math mission.”

Cuemath’s new funding round is a positive change in the industry, not only in terms of the investment size but also in investor participation. Led by Alpha Wave, this fundraise includes all their existing investors, including Lightrock India, Sequoia Capital India; Alphabet independent growth fund CapitalG; Manta Ray; and Unitus.

Anirudh Singh, MD at Alpha Wave Global, commented "Cuemath’s ability to successfully deliver outstanding learning outcomes through its proprietary platform and top-tier pedagogy has continued to impress us. Not only in India, its success in key international markets like the US, UK, Middle East, and Singapore, while maintaining high-quality unit economics differentiates the company in a competitive and dynamic EdTech market. High-quality adept teachers addressing a global need for specialized focus on math tutoring create a strong flywheel effect. We are excited to lead this investment as Cuemath deepens its penetration across global markets."


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