An end-to-end school management software, MyClassboard (www.myclassboard.com), which helps schools in automating and streamline their day-to-day operations raised Rs. 4.5 crores funding from ICICI Bank. Founded by Ajay Sakhamuri (CEO) and Ravindra Adusumilli (Co-founder and CTO) in 2010, has been witnessing profit since inception.

Said by Ajay Sakhamuri, Founder and CEO, MyClassboard regarding the funding, "We are happy to announce our Pre-Series A funding round from ICICI Bank. We will be using this fund to scale from 15 lakhs students (across 2,500 schools) to 50 lakhs students (across 10,000 plus schools). We are also expanding to the Middle East and South-East Asian markets.”

Post-COVID signs on the tremendous surge in school signups, and since March, MCB has been continuously adding new school serving more than 50,000 students on a monthly basis.

Educational technologies like MCB are adopted by schools and prediction is stated for multifold business growth in the next couple of years.

MCB will utilize the funds for scaling from 2,500 schools to 10,000 schools and serve 50,00,000 students in the next 12-24 months.

Business Development part states that plan of reaching out to more schools with the partnership of 500 plus Relationship Managers from ICICI TASC Team. The Platform Development part states that partnering with ICICI for developing connection banking/fintech products for student fee loans and student wallets.

The MCB Products include MCBERP end-to-end school management software with 40+ features which include fee collections, admissions, gradebook, HR and payroll, transport management, school parent communication, customized school mobile applications for all stakeholders and more.

Presently, MyClassboard is serving to 16+ lakhs students and about 2500 plus schools have processed more than 6000+ crores plus fees using the fee collection module.

As an online learning management system for schools for uploading online classes, learning resources, MCB LMS also conduct online assessments, and launch new online learning courses. It empowers teachers with technology and content requirement for facilitating online education.

Integration with video conferencing platform like Google Classroom, Microsoft Teams and Zoom let schools to conduct more than 17 lakhs of online classes within the last four months. On average time spent by students and teachers on the application is 120 plus minutes per day and 180 plus minutes per day.

MCB Live is Content App Store provides content for schools, and students with various subscription models, MCB, and offers pre-loaded K12 Content Library with 10,000+ video resources, ebooks, and 5 lakhs question, which are absolutely free of cost.

Students can subscribe to the Master Classes for extra-curricular activities like coding, public speaking, sports and others.

Total Addressable Market (TAM) targets more than 500,000 plus private sector educational institutions with MyClassboard being the suitable medium for institutions for all sizes.