Genext Students raises $580k in pre-Series A funding from a clutch of investors
Genext Students, a hybrid tutoring platform, has raised ₹3.75 crores ($580,000) in its pre-Series A funding round from a clutch of undisclosed investors.
The company will use the newly infused capital to fortify its team, strengthen its technology backbone and to expand the services to new cities. Ali Asgar Kagzi, Co-founder and Director of the company, said,
With our fresh round of funds, we aim to expand our services to more cities across a greater number of geographies and make use of technology in an enhanced manner. With a commendable growth of tutoring sessions witnessed in Mumbai and Pune, Genext Students is on a path of aggressive growth.
Founded in February 2013, Genext Students has over 4,000 tutors on its platform and claims a repeat rate of 75% month on month when it comes to user engagement. The platform provides propriety content along with a personalized learning experience both online and offline. It also allows real-time progress updates to parents.
Going forward, the company will establish operations in Bengaluru, Lucknow, Jaipur, Hyderabad and Chennai beyond Mumbai and Pune where it currently operates. Asgar said,
In line with the geographic expansion, we plan to expand into language training & developing state board-specific content in vernacular languages in the future.
He further says that the platform has witnessed a significant growth trajectory in FY17 and completed over 20,000 tutoring sessions in the last academic year.
Genext Students is offering a combination of private home tutoring and technology-enabled learning across State, CBSE, ICSE & International Boards. It helps parents in finding and connecting with the best home tutors in their vicinity easily and, in turn, offers enhanced and personalized learning outcomes for the students.