Edtech SaaS (software as a service) startup Toddle on January 10 said it has raised $17 million led by Sequoia Capital India in its series A round that saw participation from Tenacity Ventures and Trifecta Capital along with existing investors Matrix Partners, Beenext, and Better Capital.
This comes as B2C K-12 online edtech startups in India have been suffering post-pandemic with demand falling, while those operating in the B2B edtech segments witnessed tailwinds of growth with schools more open to adopting innovation.
This comes as B2C (business-to-customer) K12 (kindergarten through standard 12) online edtech startups in India have been suffering post-pandemic with demand falling, while those operating in the B2B (business-to-business) edtech segment witnessed tailwinds of growth with schools more open to adopting innovation.
“A significant part of this (the fund raised) would be used in product development and furthering the growth initiative. So far, we have focused on content, design, and community initiatives. Going forward, we intend to double down on that as well as start experimenting with go-to-market efforts,” said Deepanshu Arora, co-founder and chief executive officer (CEO) of Toddle, in a virtual interaction with Moneycontrol.
Arora also said the company plans to hire for 70 to 80 positions in the next four to five months. “Few senior roles are critical for us like a VP (vice president) of marketing, VP of sales, Head of people, to build a leadership team,” he said. The company, however, did not disclose details on its valuation post the funding round.
Founded in 2019 by a team of educators including Arora, Gautam Arora, Misbah Jafary, Nikhil Poonawala, and Parita Parekh, Toddle is an ed-tech SaaS startup. The startup’s first product is a teaching and learning platform used by independent schools offering IB (International Baccalaureate) and other progressive curricula, it said.
