[Funding Alert] Edtech startup Quizizz raises $12.5M in Series-A round led by Eight Roads Ventures
Edtech startup Quizizz, with markets in India and the US, has announced a $12.5 million Series-A funding round led by Eight Roads Ventures, with participation from GSV Ventures, Rocketship VC, and existing investors Nexus Venture Partners and Prime Venture Partners.
Quizizz will use the funds to expand its team to support school and corporate customers and accelerate international user growth.
In 2020, feedback from teachers affected by the pandemic prompted the Quizizz team to expand its product offering. The learning platform now supports more than 60 million people a month and is used in over 65 percent of US schools. It has customers in over 100 countries and is profitable.
Founders Ankit Gupta and Deepak Cheenath tested the first version of Quizizz while volunteering at a remedial maths programme in Bengaluru.
Quizizz helps teachers quickly create gamified quizzes and interactive lessons that generate instant student feedback without needing to be graded by hand. In addition to reducing time spent on grading, teachers benefit as their peers adopt the platform and make new content available.
A teacher can use and customise more than 30 million quizzes and lessons starting from primary school mathematics to career and technical education. In 2020, students collectively answered more than 13 billion questions on the platform.
“No matter what is being taught, we think the best and most personalised learning happens when an educator is freed from busy work like grading worksheets and rigid, out-of-the-box curriculum,” said Ankit, also the CEO of Quizizz.
“Our focus on teacher-directed learning differentiates Quizizz from many Indian edtech startups providing independent study solutions and supplemental curriculum," he said.
“Digital technology has become an integral part of the teaching process and the adoption of technology by educators has only accelerated during the pandemic," said Shweta Bhatia, Partner and Head of Technology Investments at Eight Roads Ventures India.
“Quizizz’s customer centricity and product-first approach has resulted in a highly engaged community of teachers and students," Bhatia said. "We have a strong belief in Ankit and Deepak’s deep understanding of their users, which has resulted in incredible word-of-mouth growth across millions of teachers in the US, Europe, and Asia.”
The platform aims to continue building tools that make teachers’ work easier and give educators more time to provide personal support to their students.