Teachmint - B2B Classroom Management and Teaching App
Founded in 2020, this edtech app has managed to onboard more than 1 million teachers and 10 million students in under 2 years.
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Founded in 2020, Karnataka-headquartered Teachmint is India’s leading teaching platform that enables educators to digitize their classrooms through proprietary classroom technology. Through the platform, educators are able to fulfill all their needs such as setting up virtual classrooms with assignments, administration management, progress tracking, student information management, and more.
The company’s last funding round was in October 2021, where it raised $78M in a Series B funding round co-led by Rocketship.VC and Vulcan Capital bringing its total valuation to $500M.
Teachmint is backed by notable investors like Learn Capital, Rocketship.VC, Lightspeed, Better Ventures, CM Ventures, Goodwater Capital, Epiq Capital Investment Advisory LLP, and Titan Capital.
Business Overview & Products
Teachmint is an education infrastructure provider that enables educators to digitize their classrooms so they can conduct online classes. Tutors on the platform use the Android or IOS app to connect virtually with their students. The platform allows teachers to schedule and conduct live classes, communicate with students and clear their queries, collect fees, mark attendance, share study material, arrange webinars, recruit new students, take tests, offer support via phone calls and grade tests.
The company has students and teachers from more than 25 countries using their platform to connect virtually.
How It Works
Teachmint allows educators to virtually engage with their students by helping them digitize their classrooms, thus creating a two-way interactive learning solution for both students and teachers.
Through the platform, teachers not only conduct online classes by creating individual classrooms but also mark attendance, assign students tasks, collect fees, share learning material, and conduct tests. All of this is possible due to Teachmint’s tutoring management SaaS which helps educators manage their classes in an easier and more transparent manner, instead of relying on third-party tools for each feature.
Teachmint caters to educators of all kinds from K-12 schools to after-school tutoring, universities, and edtechs. The platform is free for teachers and has been customized specifically for the Indian audience keeping in mind problems like low data bandwidth. For instance, their video technology supports live classes even in low-speed connections. Moreover, their mobile data consumption is also highly optimized so that students with limited data can easily access the app.
Once a tutor signs up on the app, they are provided a unique link for their classroom which they then share through social media or messaging applications. In order to enroll, students simply have to click on the link and join the class. The class has features like automated notes creation, automatic attendance, public streaming, whiteboard session, and class recording to make the learning experience seamless for both parties. It also offers multiple payment facilities to teachers and students to make fees payment and collection easier.
For beginners that have trouble accessing the app, Teachmint has a support team of 20 people to assist them with their queries and app functions. The platform also allows educators to create white-labeled websites that list all the courses and demo lectures conducted by them which helps in generating demand.
The platform provides lessons as well as solutions and instructions in over 15 Indian and international languages including English making it the only vernacular video conferencing app in India according to the founder.
In case of any confusion or queries, students are connected with educators 24/7 through communication tools available on the app. Tutors also have the option of recording their lessons so students can view them later or they can bundle up these lessons and sell them as independent courses. Offline content like assignments, notes, and study material can be digitized on the platform as well.
Business Model & Pricing
Teachmint has a freemium business model for tutors where it allows them to sign up on the platform for free. Tutors on the platform connect with their students virtually through live classes as well as recorded videos. However, for institutes looking for advanced services like fee management, teacher workshop, and training, classroom monitoring, multiple admin access, etc. Teachmint has a paid plan with a 14-day free trial. It is now moving towards a subscription-based pricing model and is currently working on a pro plan for users which will include services like parent engagement app, HR management, lesson planning, inventory management, etc.
To date, Teachmint has onboarded over 1,000,000 teachers to their platform from 5,000+ cities who have created more than 2,000,000 classrooms. The platform is available in over 15 Indian and international languages and has expanded to 25 countries in a span of 2 years. The company claims that over 4,000 institutions use their platform for conducting live classes and to date more than 500,000 recorded lecture repositories have been created on the platform. According to Crunchbase, Teachmint’s monthly site visits are 155,764 and its app has been downloaded more than 10 million times.
Mihir Gupta – Co-Founder and CEO at Teachmint. Mihir, an IITian previously served as Business Head at Open Financial Technologies, Asia’s first neobanking platform for SMEs and startups and Head of Revenue at OYO, an Indian multinational OTA, homes and living spaces.
Divyansha Bordia – Co-Founder and COO at Teachmint. Divyansha Bordia, an IITian previously worked as AVP Business Operations at GlowRoad.com, a social selling platform and Senior Manager at Swiggy, an Indian online food ordering and delivery platform. He also featured in Forbes 30U30 Asia list for his incredible work for the edtech industry.
Payoj Jain – Co-Founder and CPO at Teachmint. Payoj, an IIT graduate, previously worked as a Data Scientist at OYO, an Indian multinational OTA, homes and living spaces. He also served as a Teacher Assistant at Univerity of Colorado Boulder.
Anushman Kumar – Co-Founder and CTO at Teachmint. Anushman, an IIT graduate previously founded Recvani, an information technology, and software company. He has also worked as Head of Machine Learning and Data Engineering at Ropose, a leading live video and shopping app.
History & Evolution
In 2020, Teachmint was launched as a solution for teachers and students who were struggling to go online during the pandemic. The aim was to help teachers conduct live classes and make the offline to online transition seamless for both students and teachers.
Within a week of launch, the platform was able to onboard over 25,000 users.
In 2020, Teachmint launched their free live tutoring mobile app that delivers high-quality two-way streaming video to enable educators to digitize their classrooms with a simple mobile experience.
In August 2021, Teachmint partnered with Shikho, a tech startup to deliver live classes to 42 million students in Bangladesh.
In October 2021, the company partnered with Pandai, a Kuala Lumpur-based edtech to deliver live classes to over 5 million students in Malaysia.
That same month, Teachmint launched in 25 countries across South East Asia and the Middle East like UAE, Saudi Arabia, Indonesia, Vietnam, and Thailand.
It also announced the first of its kind Continuous ESOP Liquidity Plan (CELP) for its employees to reward and recognize them.
In 2022, Teachmint acquired MyClassCampus, an educational ERP player which aims to help educational institutions go digital.
Teachmint stands out from its competitors because of its own stack that helps educators enable live streaming and virtual classes. This in-house tech stack allows the company to deliver a quality online learning experience to its users and that too in the fastest way possible. The strategy also helps Teachmint save a significant amount of money thus making their operations cheaper.
In 2022, the Indian edtech industry is valued at $2.8B and is expected to increase to $10.4B by 2025.
The online tutoring service industry in India is expected to grow to $9B by 2022 with a CAGR rate of more than 16% according to the Online Tutoring Services Market in India 2018-2022 report by Technavio.
Suggested Next Reads
Here's How This Edtech Has Opened Up A World Of Possibilities (Prabhjeet Bhatla, Entrepreneur, Sept ‘21)
EdTech startup Teachmint to enable digitisation of 25B private tutoring industry in India - BW Disrupt (BW Online Bureau, BW Disrupt, Sept ‘20)
Democratising Online Education, Online Teaching Platform Teachmint Is Helping Million of Tutors Across India Teach Online For Free (Team The Startup Lab, The Startup Lab, July ‘21)