Cuemath has recently made headlines after receiving US$40 million (approximately Rs 3 billion) in funding led by LGT Lightstone, Aspada and Alpha Wave Incubation. This online platform has become a good resource for teaching children’s math and coding, and has earned a reputation. The platform is open to all KG-12 students on the school board, covering more than 10 countries/regions, including India, the United Kingdom, the United States, the UAE, Singapore, Canada, Thailand, Indonesia, Egypt, Nigeria, Nepal, and Bangladesh. The company stated that the teachers hired for the platform have undergone rigorous testing, and its mission is to “lead children to establish mathematical thinking methods so that they can become future problem solvers and innovative thinkers.”
Since its establishment in 2013, Cuemath has more than 8,000 teachers and 1,000 team members. The platform is popular because of its unique mathematics learning system, which helps students learn mathematics logically instead of by rote learning. Cuemath’s current bookings have soared to more than three times the number in fiscal 2019.
Expert advice: Deloitte India partner analyst Ashvin Vellody said: “Due to the lack of digital technology in India, the COVID-19 pandemic has paid too much attention to “technology” in any industry such as education, which makes it impossible to define a company called EdTech. The field. So far, the education community is very happy to see start-ups and mature participants focusing on building innovative Ed-Tech applications in India. 2020 is the year of survival, and digital technology has proven to be an immeasurable realization of the learning chain However, the scale of the actual impact will be revealed in the next 24 months. The industry needs to consider how to best use digital technology to create value in the long-term. This will be a good way to get rid of copying the real world online and get out of trouble. Focus on creating amazing experiences and providing value to all stakeholders in the field. The companies that will thrive are those that are agile, able to innovate, innovate and create experiences that replace the pre-installed version. Microphone system and foundation Facilities and teaching methods.”
We and Manan Khurma, CEO and Founder of Cuemath Learn more about the company’s success story, how to survive the pandemic, and future plans.
1. What were you doing before Cuemath?
Since I was a child, mathematics has always been an important part of my life. When I was working as a BTech at IIT in Delhi, I started teaching mathematics as a side project. At first it was just a way to make money, and later it became a full-time coaching class. This is the beginning of place education, where we have prepared opportunities for students to enter the IIT entrance. In addition, I wrote textbooks and provided advice to the government of Haryana.
2. What was the initial conceptualization process behind Cuemath? When did you start talking about starting a business?
My love of mathematics and teaching are the two main driving forces of Cuemath. When Locus lectured to senior students, I realized that despite my best teaching efforts, most students still struggle with math. The reason is that the foundation is weak. Although preparation for the exam is very profitable, I think it’s too late and it’s too little to have an impact.
3. When did you finally decide to start Cuemath? Please elaborate on a plan that may consolidate your intention of achieving Cuemath as a reality.
In order to have a fundamental impact on mathematics teaching, it must be done in a lower grade rather than a higher grade. After teaching more than 10,000 students, I realized that if a student is struggling with calculus in 11th grade, it is likely that they did not master algebra in 8th grade. In order to solve this problem, I decided to build a mathematics learning system based on mastery. At that time, no other learning system could solve this problem.
4. Introduce Cuemath in detail.Business description, unique service product, owner, how did your growth rate last year, etc.
Cuemath offers online after-school math and coding courses worldwide. These are live lectures provided by our well-trained teachers. In addition, our artificial intelligence-based platform enables every child to learn at his own pace. Among other things, our unique methodology focuses on enabling students to learn mathematics logically, rather than rote memorization. We have received support from investors such as others, and see that our current booking volume has reached more than three times the data for FY19.
5. How is Cuemath different from other electronic technology startups in India?
I firmly believe that math and coding are core life skills that can empower children to solve future problem solvers and thinkers. Cuemath focuses on mastery completion. For example, most children learn multiplication through memory. But at Cuemath, we tell students that multiplication is just repeated addition. Mathematics is the language of thinking and problem-solving.
6. What is your teacher recruitment process? What is the unique selling point of Cuemath?
Our training is very strict, and only 3% of teachers are qualified. According to the applicant’s qualifications, enthusiasm for teaching and pursuit of enterprises, it is shortlisted. The test of Mr. Cuemath includes not only subject expertise and ability to communicate on camera, but also their ability to personalize and empathize with parents and children.
7. When starting Cuemath, did you encounter any operational challenges (or other challenges)? Please provide our readers with detailed information about what these challenges are and how you can overcome them.
Cuemath’s mastery ideas are advanced, so it takes a lot of persuasiveness from the beginning. Naturally, parents are more concerned about the immediate results obtained through grades. As parents see the improvement of their children’s mathematics ability, we have more and more believers.
8. Do you need to invest any funds to develop your business? When are you sure you need funds?
My father and I saved our savings from the beginning. When we run out, we must get busy in all aspects without losing our focus on building impactful products.
9. Can you share some interesting stories about your first days? What have you learned from those busy days?
In the first 100 days, I did a lot of things, from course design to onboarding teachers. I still remember the first teacher I met. It is in Gurgaon. We chatted for a cup of tea. 80% of the conversation was about convincing her that Cuemath’s proposal was not a scam. Those early days were both challenging and exciting. Maintaining resilience in this situation is crucial.
10. Are there any major events in Cuemath’s journey worth remembering? Please share this event with our readers. In addition, outline all the major milestones that Cuemath has crossed since its inception.
I remember a fifth grade child struggling with math. But after joining Cuemath, he showed amazing progress. When his mother told me about his son’s latest performance, his mother felt proud. This is the first time our method has been validated and provides measurable results.
11. Can you help you understand how far Cuemath has gone?from the beginning till now
We have come a long way since we started our journey in December 2013. Cuemath has obtained STEM certification and was rated as the best mathematics course by ETR. We have taught more than 200,000 students in more than 20 countries/regions and taught more than 25 million hours of courses. Coincidentally, the pandemic has led to an astonishing increase. We tripled the number for 2019. Significant growth from foreign markets such as the United States.
Now, the number of international students studying on the platform accounts for more than a quarter of our total number of studying. Not only that, we also recently received a successful Series C financing (US$40 million). Now, we have the support of Lightstone Aspada and Alpha Wave Incubation and Sequoia Capital India, CapitalG (formerly known as Google Capital) and Manta Ray.
12. Are there any failures or challenges? Please provide detailed information about this issue and how you can overcome them.
When Covid went on strike, we mainly worked offline. In order to adapt to our online platform, we need to retrain more than 4,000 teachers within a few days, which is a difficult task. But we are agile enough to make the transition smoothly. This change has allowed us to maintain good stability and promote the brand to the world.
13. How did it feel to survive the COVID-19 crisis? Do you see business decline or unexpected growth? How did you deal with it?
During these testing hours, we are most concerned about employee safety. COVID not only forced us to be online, but also opened up new geographic locations. We have adapted to this development. Cuemath not only survives, but also thrives. For me, the biggest realization is that an organization can not only operate, but also thrive on remote work!
14. Do you want to share any management advice with future entrepreneurs?
“When you aim your head in the air and aim high, please firmly fix your feet on the ground reality.” I thought of three things: understanding the basics of the business, focusing on consumers, and building a strong team.
15. What are the big plans for the future?
We strongly hope to become the global mathematics brand of this generation. We hope to build millions of future problem solvers. Mathematics and joint educational skills such as coding and data science are the future-this is where we hope to be a global leader.
16. What is the strength of employees? Is Cuemath currently hiring?
M: We currently have more than 8,000 teachers and 1,000 team members. Yes, we are hiring! We are always looking for outstanding talents at Cuemath.
Why did LG give up its smartphone business? We discussed it on the gadget 360 podcast Orbital. Later (from 22:00), we will discuss the new cooperative RPG shooting game “Outriders”. Orbital is available for Apple Podcast, Google Podcast, Spotify and wherever you get podcasts.