Teachmint revenue grows 2X in FY24, losses down to Rs 82 Cr

Teachmint, a SaaS-based edtech firm, doubled its revenue to Rs 17.1 crore in FY24 from Rs 8.15 crore in FY23, while reducing its losses by 39.2% to Rs 110 crore. Excluding non-cash ESOP costs, the company’s losses stood at Rs 82 crore. Teachmint sells education software solutions through subscriptions to schools and teachers, with software sales accounting for 73% of its operating revenue. The company managed to control its overall costs, reducing employee benefits, marketing, and IT expenses. Teachmint’s transformation from pre-revenue to significant revenue growth is driven by its focus on digitizing schools. The company has raised over $100 million in funding, with a $78 million Series B round in October 2021. Despite facing challenges, including layoffs, Teachmint continues to expand its market presence, competing with firms like Classplus and Lead School.