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Lightspeed-backed Teachmint marks fourth acquisition in 2 months with MyClassCampus

Lightspeed-backed Teachmint marks fourth acquisition in 2 months with MyClassCampus
Credit: 123RF.com

Lightspeed Venture Partners-backed edtech platform Teachmint, operated by Teachmint Technologies Pvt Ltd, has bought MyClassCampus, an educational enterprise resource planning software, which enables campuses with end-to-end digitisation of their operations, management and communication, the company said in a statement on Friday. 

MyClassCampus’ acquisition, marks Teachmint’s fourth acquisition since December. In December alone, the company had acquired Teachmore, Teachee's India team and Airlearn. MyClassCampus will enable Teachmint to broaden its offerings for schools and institutes by combining enterprise resource planning with its learning management system, the company said. The company did not disclose financial details of the transaction. 

Founded in 2017 by Rachit Dave, Rutvij Vora and Raj Kothari, MyClassCampus is a campus management solution, which enables schools, colleges and coaching centres to digitise all their operations from online admissions, HR (human resource) and payroll management, performance management to communication management among many other functions. Since inception, the company claims to have served over 1,500 institutes and more than 2 million students across 30 countries. 

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“We have been committed to solving for education by enabling schools, universities and coaching centers to become future-ready and with Teachmint we have found the perfect integration to deliver even more value and innovation to them. Teachmint’s understanding of the space and growth over the past 20 months has been inspirational and together,” said Rachit Dave, Co-founder, MyClassCampus. 

MyClassCampus will be a part of Teachmint for Institute, Mihir Gupta, Co-founder and Chief Executive Officer, Teachmint told VCCircle in a virtual interaction. Teachmint for Institute enables schools, higher educational institutes, universities and coaching centers to digitise through end-to-end technology enablement. The product offers educational institutes a platform to conduct and monitor all their classes and institute activities, from automating attendance, fees collection and performance assessments to recording and storing lectures. Launched in July 2021, Teachmint for Institute claims to have seen adoption from over 4,000 institutes across India. 

“We are confident that MyClassCampus’ extensive educational enterprise resource planning combined with our state-of-art learning management system will be a complete one-stop solution for educational institutes across the globe and we are delighted to have Rachit, Rutvij, Raj and the entire MyClassCampus team onboard,” said Gupta. 

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Teachmint, founded in 2020 by IIT graduates Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar, recently made forays into global markets and is available in 20 Indian and international languages, Gupta told VCCircle. The platform claims to cater to over 10 million teachers and students. The company further plans to double down on its international expansion, Gupta said. 

“Over the last couple of months, we have opened up the application to 30 plus countries largely focusing on Southeast Asia and Middle East. We are starting to see good traction in a number of these countries where we have opened up the application. Similarly, if you look at MyClassCampus as well, they are also a global product and so we will continue doubling down and will aim to become a universal application,” said Gupta. 

In October last year, Teachmint had raised raised $78 million in a Series B funding round led by Rocketship.vc and Vulcan Capital at a valuation of $500 million. The round had also seen participation from Goodwater Capital, Epiq Capital, and existing investors Learn Capital, CM Ventures, Lightspeed India and Better Capital.    

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In November, the company had announced a plan that enabled employees to liquidate their vested ESOPs (employee stock ownership plans) against cash at any point of time over the span of a year.

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