Teachmint, an education infrastructure startup, has acquired Teachee, a course-selling platform that enables teachers to sell educational products like online courses, marking its second buyout this month itself.
Teachee was launched in India in October 2020 by Vlight Technology Pte, a Singapore-based company. This comes right after Teachmint’s acquisition of Teachmore, a course-selling platform that enables teachers to sell educational products like online courses, live classes, quizzes and more through their apps and websites, the statement said.
With this deal, close to 20 members of Teachee’s India team will become a part of Teachmore by Teachmint, strengthening the company’s course-selling offering and enabling it’s a community of millions of teachers to grow their online presence, the company said.
Teachee’s India country manager, Aakash Kasaundhan, has joined the company as a Senior Director, and will be leading the platform’s business growth. This acquisition comes at a time when the Teachee platform is being discontinued globally, it said.
“We are very happy to welcome the Teachee team to the Teachmint family. This acqui-hire will aid the expansion of our course-selling offering and help deliver even more value and innovation to our teachers. With the aim of scaling our user base from 10 million to 100 million and beyond, we are laser-focused on increasing our team strength and bringing the best talent onboard. This acqui-hire gives us a great boost and we are well-positioned to revolutionise the growth and monetisation opportunities for educators and creators,” Mihir Gupta, Co-founder and CEO, Teachmint, said.
Teachmint Technologies Pvt Ltd focuses on tutor-student interaction, providing mobile-first and video-first teaching platforms to assist teachers in digitising their classrooms. It is used in over 5000 cities and towns across the country and has over 10 lakh teachers on its platform. It is available in over 15 Indian and worldwide languages in addition to English, the statement said
The company claims that the Bengaluru-based startup is backed by investors such as Rocketship.vc, Vulcan Capital, Learn Capital, Goodwater Capital, Epiq Capital, CM Ventures, Lightspeed India, Better Capital and Titan Capital. Its latest fund raise was in October, when it raised $78 million. In July, Teachmint had raised $20 million (Rs 149.4 crore) in a pre-Series B funding round led by global edtech-focused VC firm Learn Capital.
To date, the company has raised $118 million, the statement said.
Teachmint was founded in May 2020 by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar - alumni of IIT Bombay and IIT Delhi - with work experience at the executive level at OYO, McKinsey, Swiggy and Roposo.
Last month, Teachmint announced a plan to enable its employees to liquidate their vested ESOPs (employee stock ownership plans) against cash at any point of time over a year.