Bangalore based education startup for parents to find tutors for their wards, Flipclass has raised INR 1.5 Cr in seed funding from a group of investors led by Hareesh Ramanna, founder of Singapore based BlueCap Mobile Holdings on online funding platform LetsVenture.
The company has plans to expand its services in over 50 Indian cities having population of more than 10 lakh. Currently, FlipClass has about 1000 tutors and 500 students in Bangalore.
Despite of the availability of a large number of tutors in the market, its difficult to find a qualified and affordable tutor, Flipclass was launched to solve this pain point. The startup provides qualified, background checked and trained home tutors to parents for their wards.
Be it parent or a tutor, one just need to register on the platform. Flipclass charges registration fee of INR 2,000 from the Tutor as well as a platform and printed material fee of around INR 6,000 per annum, these content/notes are either leased or licensed.
For students, the charges depends on number of hours one is asking for per month, these vary from INR 3,000 to 10,000 per month.
As per Assocham private coaching market is of about $24 Bn out of which home tuition is now estimated at about $10 Bn. Startups like TutorIndia and MyPrivateTutor are also dealing in the same space.
Flipclass was founded by Vineet Dwivedi in 2013, the startup aims to earn revenue of $150 Mn in the next 5 years. Vineet has previously founded Amogha which was acquired by Xora, a mobile resource management company in August 2006. Later, he founded Career Mantra which was acqui-hired by TutorVista.
Recently, cloud-based mobile content & communication delivery platform Tydy has also raised $138k in angel funding on LetsVenture.