Good morning, it's Thursday and we're back with a couple of early financing rounds today. And in the US today, we've had Tiger Global participate in several late-stage rounds and the Roblox Direct Listing. Onto the news today and more on Quizizz and Captain Fresh
➡️ In the buzzy EdTech sector we have another company raising capital- Quizizz has raised $12.5M in a Series A round led by Eight Roads Venture with participation from GSV Ventures, Rocketship VC & existing backers Nexus Venture Partners and Prime Venture Partners.
➡️ Quizizz is also completely different from most Indian EdTech companies being covered- India is not the core market for them at all and they started targeting the US from a very early point in their journey, and their core customer are the teachers in schools as Quizizz helps them created gamified quizzes and interactive learning material.
➡️ The most fascinating thing about the company is how they've nailed bottoms-up adoption amongst US schoolteachers- "with over 65% of schools in the US using the service." (up from ~33% 2 years ago).
➡️ The company is also present in over 100 countries with over 60M Monthly Active Users (I assume this is teachers + students). Quizizz also grades the students automatically on their quizzes and provide feedback that the teacher can act upon. And now that they've tackled distribution to the teachers, it seems like selling to school districts might be next up for the company.
2. http://bit.ly/2PHUIN5: Captain Fresh raises a $3M seed round
➡️ Seafood B2B marketplace Captain Fresh has raised a $3M seed round led by Matrix Partners and Ankur Capital. Several other funds and angels also participated in the round including Jupiter Money’s Jitendra Gupta and Pine Labs’ Amrish Rau.
➡️ The company, founded in 2019, provides fresh water fish and seafood to over 550 retailers (general trade, online meat & seafood retailers). The company is currently present in Bangalore, Hyderabad, Pune & Mumbai and a couple other cities.
➡️ The seafood supply chain in the country is very inefficient with small fragmented retail demand along side small fishermen and farmers across the country- Captain Fresh is transforming that supply chain by aggregating the demand and linking them to supply.
➡️ The company has also seen a 10x grown in the last year and a half and is closer to their $1M/revenue milestone (I assume they mean GMV here and not their take rate). With eCommerce in the country having penetrated the consumer landscape somewhat well across different sectors (at least in the larger cities), it makes sense that B2B eCommerce plays are up next and doing well.
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/chrisfralic/status/1369664091908960265
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