Edtech SaaS startup Toddle said on January 10 that it had raised $17 million in a Series A round led by Sequoia Capital India, Tenacity Ventures and Trifecta Capital, with existing investors Matrix Partners, Beenext and Better Capital.

This is because India’s B2C (business-to-customer) K12 (kindergarten to standard 12) online edtech startups have suffered a post-pandemic drop in demand. In contrast, those operating in the B2B (business-to-business) edtech space are witnessing growth tailwinds, and schools are more open to adopting innovations.

Founded in 2019 by educators Arora, Gautam Arora, Misbah Jafary, Nikhil Poonawala, and Parita Parekh, Toddle is an edtech SaaS startup. The startup’s first product is a teaching platform for independent schools offering IB (International Baccalaureate) and other progressive courses, it said.

The company has recently expanded its product range to include other international courses such as Cambridge, UK and the US, and will soon launch a product for preschools.

Currently, more than 40,000 educators from more than 1,500 schools in more than 100 countries use the Toddle platform, including free and paying customers, the company added. Today, Toddle operates in the US, UK, Australia, China and the UAE.

Toddle’s FY21 revenue fell to Rs 9.4 crore from Rs 14.6 crore in the previous financial year, according to the latest figures available on the Ministry of Corporate Affairs (MCA) website.

“In 2019, we had about 50 paid schools; in 2020, about 180-190; in 2021, about 400; then in 2022, we have about 800 paying customers. Our base is doubling every year, “Deepanshu Arora, co-founder and CEO of Toddle, added.

The company also recorded a loss of Rs 0.2 crore for FY2021, compared to a profit of Rs 1 crore in the previous financial year. However, Toddle has yet to make its FY22 statement public.

Before this round, the company had raised $2.95 million in funding over three rounds.