TakeLessons, a San Diego-based online marketplace for private lessons, raised a $7 million Venture Round led by Lightbank with participation from Crosslink Capital, SoftTech VC, Triangle Peak Partners, and Moore Venture Partners.
Founded in 2006 TakeLessons has raised $20 million in total funding to date.
The new funding will be used to further develop the cloud based solutions TakeLessons is offering to tutors as well as to expand into new verticals like language instruction.
Last month TakeLessons acquired its competitor Betterfly for an undisclosed amount. In an email to Xconomy, TakeLessons CEO Steven Cox explains that the fundraising and acquisition happened in the same timeframe. Lightbank, the biggest investor in Betterfly, showed interest to invest in TakeLessons in November.
“It turned out to work out nicely for all of us. They were able to stay invested [in] the local marketplace space and we were able to acquire a competitor that fit strategically in our game plan.”
TakeLessons will now double down on providing tutors with tools that help them to become more efficient on the business side and therefore being able to focus on the teaching. TakeLessons enables tutors to market their lessons on the platform, receive bookings, handle billing and payments.
According to TakeLessons tutors have earned a combined $20 million and taught over one million lessons to date using the platform.
- TakeLessons Raises $7 Million in Venture Funding | Press Release
- TakeLessons Takes in $7M to Expand Its Online Market for Classes | Xconomy
- HEDLINE: TakeLessons acquires Betterfly | EDUKWEST