California and Bengaluru-based e-learning platform Quizizz has raised $3 Mn in a funding round led by Nexus Venture Partners.
Existing investor Prime Venture Partners and a few angels also participated in the funding.
Quizizz is an e-learning platform that helps teachers turn homework and tests into self-paced games. It was founded in 2015 by Ankit Gupta and Deepak Joy Cheenath, alumni of BITS Pilani.
The platform has different Quizizz game modes that enable students to play in a group or to complete assignments at home on their own. It has features such as points, customizable memes, and an optional leaderboard to personalise the experience for each class.
Ankit Gupta, co-founder, Quizizz, said, “Our mission is to motivate every learner. When we hear that a student initially struggled on a math assignment but then replayed it six or seven times because he/she wanted to improve, we know we’re on the right track.”
The startup will use the raised funds to develop new products that help students master standards specific to their grade level, school, and state.
Ram Gupta, managing director, Nexus Venture Partners, said, “With Quizizz, teachers save time and students learn while having fun. It is a win-win, and that’s why we’ve seen it adopted in more than 50% of US schools, with over 10 M students using it.”
As observed by Inc42 DataLabs, of the total funding of $3 Bn in H1 2018, only 7% went to edtech startups across 26 deals.
Recently, edtech platform BYJU’S was in talks with SoftBank and other investors to raise $200-250 Mn for global expansion.
Another edtech startup, Educational Initiatives, also raised $25 Mn from Mumbai-based Gaja Capital last month. The startup is expected to use the funding to further build its technology platforms, expand its product portfolio, and enter new markets.
Other notable players in the elearning space in India are Unacademy, UCLID, Toppr, and Englishleap, among others.
According to a report by Google and KPMG of May 2017, the online education sector has a potential to touch $1.96 Bn by 2021 from $247 Mn at present.