Outschool a San Francisco-based marketplace of live online classes has raised $110 million in Series D funding with a $3 billion valuation in a round led by previous investor Tiger Global Management and first-time investor Bond.
Additional participants in the round include Lightspeed Ventures, Union Square Ventures, Reach Capital, Coatue, FundersClub and SV Angel.
The round follows Outschool’s $75 million Series C raise in April this year.
Outschool’s classes range from one-time events, to ongoing social groups, one-on-one tutoring, week-long camps, and ongoing courses. Classes are offered across all subjects and for learners ranging from age three to 18.
Evan Feinberg, partner at Tiger Global, said: “Outschool’s online learning provides parents and students with a high-quality, convenient and affordable form of after-school enrichment and supplemental learning. Offering small, customised classes taught online and in real time, Outschool has emerged as an industry leader, and we are excited to partner with them as they expand.”
Outschool’s chief executive Amir Nathoo commented: “Outschool engages and inspires learning through a large variety of classes and subjects so kids can dive deeper into their favourite interests. We have seen first-hand how the small-group format encourages social interaction and builds friendships while also allowing for a deeper understanding of subject matter. Recently, we launched Outschool Pods based purely on demand from both teachers and families to have more opportunities for on-going organised, academic classes in small group settings. We will continue to innovate our product based on the needs of our community. I couldn’t be prouder of the achievements of our team from the past year and a half. Now we recognise the real work begins as we scale up and realise the platform’s great potential to inspire learners across the world.”
Date published: 15 October 2021