Quizizz raises $12.5 million in Series A round of funding
Bengaluru: Quizizz, which gamifies quizzes and interactive lessons, has raised $12.5 million (around Rs 91 crore) in a Series A round of funding.
The round in India and United States-based Quizizz has been led by Eight Roads Ventures.
Eight Roads, which is a global venture fund, has been investing in India since 2007 and says it has $1 billion under management in the country.
Other participants in this exercise include GSV Ventures, Rocketship.vc, and existing backers Nexus Venture Partners and Prime Venture Partners, Quizizz said in a statement.
Before this round, the platform raised $3 million (around Rs 20.6 crore) in August 2018 in a round led by Nexus Venture Partners. Prime Venture Partners and angels also participated in the round.
Quizizz, operated by Quizizz Inc., was set up in 2015 by Ankit Gupta and Deepak Cheenath. The company says its platform helps teachers create quizzes and interactive lessons that result in immediate student feedback.
The startup will use the capital raised in this Series A round to expand its team to support the school and corporate customers, as well as accelerate international user growth. It will also focus on product development to reduce teacher workload.
“Quizizz’s customer-centricity and product-first approach has resulted in a highly engaged community of teachers and students. We have a strong belief in Ankit and Deepak’s deep understanding of their users which has resulted in incredible word-of-mouth growth,” Eight Roads Ventures India partner and head of technology investments Shweta Bhatia said.
