Edtech SaaS startup Toddle is actively engaging with both new and existing investors to secure fresh funding of approximately $15-18 million, as per sources familiar with the matter.
The startup previously raised $17 million in its Series A round in January 2023, led by Peak XV with contributions from Tenacity Ventures, Trifecta Capital, Matrix Partners (now Z47), Beenext, and Better Capital.
According to insider information, GSV Ventures is expected to co-lead this new round with significant backing from existing investors. Additionally, a US-based micro venture capital firm might also participate. GSV Ventures, known for investing in leading edtech players like PhysicsWallah, Coursera, and Classplus, is further strengthening its position in this sector. Notably, Peak XV and Matrix are also investors in Classplus, a competitor to Toddle, alongside other edtech SaaS platforms like Teachmint and Unacademy’s Graphy.
Founded in 2019 by Deepanshu Arora, Gautam Arora, Misbah Jafary, Nikhil Poonawala, and Parita Parekh, Toddle’s flagship product is a teaching and learning platform catering to independent schools offering IB (International Baccalaureate) and progressive curricula. With a presence in over 100 countries, Toddle boasts more than 2,000 schools on its platform, serving both free and paid users in regions like the US, UK, Australia, China, and the UAE.
The company is projected to achieve a post-money valuation of around $100 million after this funding round. To date, Toddle has raised $20 million across three rounds. Despite impressive revenue growth of 72% to ₹32.35 crore in FY23, its losses doubled from ₹19.45 crore to ₹40.7 crore. The company’s FY24 financials are yet to be disclosed.
This funding attempt comes amid signs of recovery in the edtech space, with a gradual resurgence of large deals. Recent highlights include PhysicsWallah’s $210 million round, Eruditus’s $150 million, and upGrad’s $60 million funding. Edtech startups have raised $613 million across 37 deals in 2024, surpassing 2023’s $456 million but still lagging behind the sector’s peak in 2021, when it raised $5.8 billion.
Toddle and Peak XV have declined to comment, while queries sent to GSV Ventures and Z47 remain unanswered.