Bengaluru-based edtech player Cuemath, founded in 2013, has been creating innovative math learning solutions to make the subject easier for the students. In September 2021, Cuemath appointed former Swiggy COO, Vivek Sunder as its CEO.
Speaking about the company’s journey through the pandemic, Vivek says that earlier the company’s business was barely international and around 90 percent of the business was in India as it was the home market. However, in the last couple of years, the company has journeyed from an India-only business to a majorly international one. “Over 65 percent of our business is international and it’s across 50 different countries,” he shares.
According to him, this points to the universality of math as a subject and how massively the company has spread its reach through word of mouth alone in many countries. Over 200,000 students have used Cuemath till date, he says.
Vivek shares that the company’s plan for 2022 is to continue the journey of expansion. “We are expecting to cross the 100-country milestone in 2022,” he says. The startup’s area of focus, going forward, is to provide conceptual clarity on the subject as well as help students with preparing for international competitions, test preparations, etc. The company will also be focusing on making sure that nobody goes through math anxiety by tying up with child psychologists, he adds.
“I think it is wrong for the world to have a fear of math when it’s actually such a fascinating subject and something that is universally useful for everybody,” he says.
Commenting on the fundraising scenario, Vivek affirms Cuemath raised funds about a year ago, which they utilised towards international expansion and product development. He further informs that they are currently in the middle of a fundraiser and the money is going to be utilised towards acquiring talent, technological development and expanding the customer base.
Lastly, in terms of revenue, Vivek shares that Cuemath aspires to be a multi-billion-dollar revenue company in the next five years or so, as their addressable market is huge since math is a universally accepted and useful subject. He adds that, in the next year or so, their business is going to grow by 5x. This growth will be driven by international expansion, promotions and retention and referral programmes, he concludes.
