Varsity Tutors Raises $50 Million
Varsity Tutors announced today that it has closed a $50 million Series C funding round led by Learn Capital, with participation from The Chan Zuckerberg Initiative and existing investor TCV.
Varsity Tutors connects students with 40,000 experts in more than 1,000 subjects and tests. The company plans to increase those numbers substantially as it targets new verticals and new international markets. Varsity Tutors also intends to focus on new product innovation, including expansion of its Instant Tutoring product, which allows learners to connect with live experts in as little as 15 seconds in nearly 150 subjects.
According to the company, more than 100,000 students have relied on Varsity Tutors’ online, mobile and in-person live instruction to meet personal and professional goals. Learners have accessed more than three million hours of live instruction on the platform. In 2017, Varsity Tutors acquired First Tutors, the largest tutoring marketplace in Europe. It has also acquired four educational content websites to introduce Varsity Tutors to millions of new users.