Teachmint, an Indian edtech company, has raised $78 million in funding, valuing it at $500 million.

Teachmint, a company that provides educational infrastructure, has raised $78 million in series B funding led by Rocketship.vc and Vulcan Capital. In addition, Goodwater Capital and Epiq Capital were added to the company's board of directors as part of this round. Existing investors Learn Capital, CM Ventures, Lightspeed India, and Better Capital increased their investment opportunities in the company's fifth round of funding as well.

The 'ed-infra' startup has quickly grown to a user base of over 10 million users in India and aims to scale to over 100 million users globally in the near future. Teachmint will also focus heavily on expanding its teams and hiring skilled talent, especially in the product, future technologies, and design, in order to accomplish this.

The company has decided to moreover double its workforce in the next six months and will also announce its greatest ESOP buyback strategy in order to reward and recognize its team's achievements. Teachmint also aims to implement a few strategic acquisitions in the coming years to diversify its infrastructure offering. Teachmint is actively seeking partnerships with players who would be innovating in technology infrastructure across the education ecosystem and introducing their products to a wider scale through the use of Teachmint's platform.

The startup, which debuted just weeks after the pandemic, is establishing "ed-infra" for Indian educators to help them take online courses, begin virtual interactions with students, assign tasks, track attendance, and collect fees.

This approach differs from that of edtech like Byju's, Unacademy, and Vedantu, where teachers have no direct contact with their students.

Teachmint's model is also effective. Teachmint has decided to expand its ed-infra offerings with products including Teachmint for Institute and Education Video-as-a-Service, in addition to the continued growth of its mobile-first teaching platform.

Teachmint seems to be the only solution that describes educators' end-to-end infrastructure needs, from K-12 schools to after-school tutoring to universities and even edtechs. It has been embraced by over 4,000 academic institutes in India and has various global edtech partnerships.