Cuemath raises $15 million in funding

Math learning startup Cuemath today said it has raised USD 15 million in its Series B round of funding from CapitalG and Sequoia India.

CapitalG (formerly known as Google Capital), the growth equity investment fund of Alphabet (Google's parent company), led this round of funding, the company said in a release.

Cuemath is an after-school math excellence program for children in KG to grade 8 and is offered through home-based centres which are managed and run by trained and certified Cuemath Teachers.

Founded in 2013, Cuemath now has over 2,000 centres educating more than 10,000 students across the country.

Stating that by March 2018, it aims to establish 5,000 centres and enrol 40,000 children in the program, Cuemath said the funds raised will be utilised towards making the learning system more powerful and expanding to more cities across the country.

"Cuemath takes math excellence to a wholly different level. Through its multi-format tech-enabled learning system, Cuemath ensures that children not only master math but also fall in love with it," Cuemath's Founder and CEO Manan Khurma said.

Currently, Cuemath has a strong presence in Delhi, Bengaluru, Mumbai, Chennai, Pune and Hyderabad, with over 300 math excellence centres in each of these cities.

"Manan and the team have spent years perfecting a new way of teaching math to young children and delivering it through a unique partner model, and this round of funding gives them the ability to expand the business dramatically," Abheek Anand, Principal, Sequoia Capital India Advisors, said.

Cuemath had earlier raised USD 4.1 million in its Series A round of funding from Sequoia India in February 2015.

The seed round of funding was done in 2014 by Unitus Seed Fund and Alok Mittal, a well-known early-stage investor.