BrightChamps, a global platform for kids to learn next-generation skills has recently announced that it has raised $63 Mn to emerge as one of the fastest growing Edtech startups to reach a valuation of nearly half a billion dollar in little over a year.
The investment round saw contributions from multiple marquee investors across geographies such as Premji Invest – well-known private equity investor, GSV Ventures – Edtech-focused Venture Capital firm based out of USA, Binny Bansal- investor and Co-Founder Flipkart, Bangalore-based 021 Capital and Singapore-based BEENEXT.
Founded by Ravi Bhushan in July last year, BrightChamps aims to empower kids across the globe in the age group of 6 to 16 years with important next-generation life skills through its adeptly crafted live learning program which complements the school curriculum, fuels the latent talent of the children and grooms them towards the future success in alignment with their natural abilities and inclinations.
In less than 10 months of its inception, the company managed to establish its market leadership in over 10 countries with an outstanding booking run rate. Currently, over a hundred thousand registered students are spending more than 6 million minutes of live learning every month on the platform. These students are mentored by close to a thousand online instructors spread across the world. Most incredible part about the journey of BrightChamps is that this unprecedented growth was achieved profitably by the company, without consuming any external capital so far. The exceptional journey made Binny Bansal, Founder of Flipkart, remark, “With its exceptional business growth and deeply passionate team of leaders and educators, BrightChamps is well-positioned to emerge as a global leader in the EdTech industry.”
Ravi Bhushan, the founder and CEO at BrightChamps, commented, “BrightChamps was conceptualized with a single thought – What would the youngsters tomorrow need to excel in this fast-changing dynamics of the modern world?
We felt that there is an immense need for a unique curriculum which can fill the gaps in current education system while aligning with a child’s learning abilities as per their necessity of the age. We have been stunned with the love we have received so far from parents and students across different countries.”
Recently, BrightChamps has made huge strides in South-East Asian geography. The teachers and parents here are catching up with the pace of accelerated early learning for their students, adopting these advanced curricula. The Company managed to break the language barriers by hiring qualified local teachers and providing their new-age curricula in vernacular languages. This made Hero Choudhary, managing director at BEENEXT – Singapore-based VC firm, remark, “BrightChamps is building a truly global company and their superlative execution, breaking all the geographical barriers in such a short span of time, is unprecedented in the history of the edtech ecosystem.”
Now with more firepower in their warchest, the company will also expand to other relevant verticals by launching more courses and will also look to acquire new companies in adjacent markets.