The News Scroll 11 July 2017  Last Updated at 2:37 pm

Cuemath to scale up math excellence centres to 4000 to 5,000

"Whatever revenue is generated in a teacher's center is split in a 60:40 ratio, and teachers retain the 60 per cent of the revenue and the company takes 40 per cent," they said

Cuemath to scale up math excellence centres to 4000 to 5,000
outlookindia.com
1970-01-01T05:30:00+0530

by year end    

bengaluru, July 11 : Math learning startup Cuemath today said it plans to increase the number of its centers of math excellence in the country to 4,000 to 5,000 by year end, from 2,500 at present.

The company that provides home-based, after-school  learning program in mathematics also announced achieving a milestone of 20,000 students and said it aims to reach 50,000 students by the end of this year.

"We have our internal numbers, for us more important is how do we get there how do we grow. We want to grow in a very sustainable manner; we want to make sure we build with  quality. We want to select right teachers, we want to empower  them correctly and our true mission is the end user- the  student," Cuemath's founder, and CEO Manan Khurma said.

Speaking to reporters, he said "Subject to these broad  constraints we still have a very healthy growth projected for  this year and going by how we are growing today we will be at  about 50,000 students by the end of this year.We think we will scale to about 4,000 to 5,000 centres by the end of this  year."

Founded in 2013, Cuemath has raised series of funding  led by Sequoia India, Unitus Seed Fund, Alok Mittal, the most recent one being the series B funding of USD15 million from CapitalG (formerly known as Google Capital).

Cuemath has centres of math excellence across 80 cities in India, including Delhi, Mumbai, Bengaluru, Chennai, pune and hyderabad.

Stating that Cuemath strongly believes in the potential of its model to scale in tier two cities, Khurma said, "we think there is a huge market in tier two cities."

He said "The plan is to go aggressive in terms of growth in Tier two cities from next year on wards. This year  we are consolidating our presence in the tier one cities."

Cuemath said as of today it has about 2,600 teachers  across the country.

Noting that every child pays Rs 2,000 per month on an average across the country, the company officials said the business model is a revenue share.

"Whatever revenue is generated in a teacher's center is split in a 60:40 ratio, and teachers retain the 60 per cent of the revenue and the company takes 40 per cent," they said.

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds.
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