Quizizz, which gamifies quizzes and interactive lessons, has raised $31.5 million (Rs 234 crore) in its Series B round of funding led by Tiger Global Management.
Existing investors Nexus Venture Partners, GSV Ventures, and Eight Roads Ventures also participated in this round, as per a press statement.
Bengaluru and US-based Quizizz will use the capital to expand its team across both India and the US to keep pace with customer growth and invest in key partnerships to accelerate expansion in international markets.
“In the average week, students around the world answer more than 300 million questions on Quizizz. Our hope is that every time a question is answered, it inspires the student to keep learning and gives their teacher time to focus on personalised support instead of staying up late grading a stack of worksheets,” said Quizizz CEO and co-founder Ankit Gupta.
Quizizz, operated by Quizizz Inc., was set up in 2015 by Gupta and Deepak Cheenath. The company says its platform helps teachers create quizzes and interactive lessons that result in immediate student feedback.
Quizizz claims that its platform is currently used in over 120 countries and in more than 80% of US K-12 schools.
The company had raised $12.5 million in its Series A round in March this year led by Eight Roads Ventures.
Prior to that, the platform had raised $3 million in August 2018 in a round led by Nexus Venture Partners. Prime Venture Partners and angels also participated in the round.
Tiger Global has been aggressively investing in India this year. The investor has made 20 bets in 2021 in India which is equivalent to what it did in 2020.
Out of these 20 bets, 10 were new investments, already more than the nine fresh investments made last year.
In fresh investments this year, Tiger Global led or co-led funding rounds in investment platform Next Billion Technologies Pvt Ltd or Groww, conversational messaging platform Gupshup Technology India Pvt Ltd, and Indian social network ShareChat (Mohalla Technology Pvt Ltd), making them all unicorns in the process. These were new verticals for the firm.