Edtech startup Quizizz will use the funds to support new products that help students master standards specific to their grade level, school and state.
Quizizz, a learning platform that helps teachers turn homework and tests into self-paced games, has raised $3 million from Nexus Venture Partners and existing investor Prime Venture Partners.
Founded by BITS Pilani alumni Ankit Gupta and Deepak Joy Cheenath in 2015, Bengaluru- based Quizizz combines game-design elements with self-paced questions and instant feedback to help students learn.
Quizizz has teams in the US and India and a community of 10 million teachers, students, and parents around the world.
It claims to have about 10 million student users per month.
In a statement, Ankit said, “Our mission is to motivate every learner. When we hear that a student initially struggled on a math assignment but then replayed it six or seven times because he/she wanted to improve, we know we’re on the right track.”
Nexus Venture Partners is also an investor in edtech startup Unacademy, which has raised $38.5 million since its launch in 2015.
“With Quizizz, teachers save time and students learn while having fun. It is a win-win, and that’s why we’ve seen it adopted in more than 50 percent of US schools with over 10 million students using it. We’re excited to be partners in the journey ahead,” Ram Gupta, Managing Director of Nexus Venture Partners, said.
Different Quizizz game modes let students play as a group or complete assignments at home. Features like points, customisable memes, and an optional leaderboard personalise the experience for each class.
Instead of creating quizzes from scratch and hand grading every assignment, teachers cover basic concepts by customising public quizzes. Students get instant feedback when they complete each question. As a result, Quizizz claims, educators have more time to focus on priorities like individual support and curriculum development.
A joint 2017 report by Google and KPMG says that the edtech market now stands at $247 million and has a potential to touch $1.96 billion by 2021. The online education in India will see approximately 8x growth in the next five years. Recently, the edtech sector in India got its first startup unicorn in Byju’s, which has raised $244 million from investors including Tencent, Chan Zuckerberg Initiative, Sequoia Capital, and Lightspeed Ventures. Other prominent players in the market include CueMath, Simplilearn, among others.