Teachmint lays off about 70 more staff after pivoting to schools-only software

Bengaluru edtech founded in May 2020 that began with software to help teachers digitize classrooms and now sells software for schools.

Focusing on software for schools, rather than for individual teachers and educators, will bring revenue fast enough to justify its cost base.

A little over $100M raised in total, including a $78M Series B in October 2021.

Teachmint was founded in May 2020 and became known for software infrastructure that helped teachers and educators digitize their classrooms. It stayed pre-revenue until FY22 and began monetising in FY23.

In December 2022 it laid off 45 people, nearly 5% of its workforce. It then pivoted to a model offering software solely for schools. In FY22 its losses widened 25 times to Rs 131 crore, against Rs 77 lakh of operating revenue. CEO Mihir Gupta told Entrackr that revenue had picked up pace and would be sizable in FY23 and FY24.

On 5 May 2023 Entrackr reported about 70 further layoffs across marketing, tech, product and operations. The company confirmed it, citing structural efficiencies, and offered three months of payroll support, six months of health insurance and counselling access.

Losses of Rs 131 crore in FY22 dwarfed revenue of Rs 77 lakh.

The company changed its model to serve only schools.

Teachmint said it was working on increasing structural efficiencies.

It had already cut 45 people in December 2022.

Narrowing the customer to schools can clarify the product, but a team built for a broader pitch has to shrink while the new revenue line is still small.

As of 2023-05-05 Teachmint had cut staff twice in five months while CEO Gupta said revenue would be sizable in FY23 and FY24. That revenue claim was the CEO's, and results had not been reported.