Teachmint is happy and excited to announce an industry-first Continuous ESOP Liquidity Plan (CELP) to reward and recognize the contributions of our team. This initiative also makes us among the first Indian startups to give the team members complete control over the liquidation of their ESOPs. This comes at the heels of the latest series B fundraise of $78 mn led by Rocketship. vc and Vulcan Capital, with participation from Goodwater Capital, Epiq Capital, Learn Capital, CM Ventures, Lightspeed India, and Better Capital.
Any member of the workforce will be able to liquidate portions of their vested ESOPs against cash at any point in time over the next year. What differentiates this initiative is that it puts the timing and quantum of such liquidation in control of the individual. With the aim of scaling our current user base from 10 million to 100 million and beyond, we are focused on doubling our team strength over the next six months with a focus on product, technology, and design skills. An initiative like CELP will also fuel our hiring initiatives and help groom top-quality talent.
"Teachmint has witnessed unprecedented growth since inception and we believe it’s important to acknowledge and reward the contributions of our team in this journey. Our team is our biggest moat and CELP is one of the many steps which we have taken to ensure we understand their changing needs and continue empowering them. This initiative will help in ensuring flexible financial planning for everyone in the organization and support wealth creation opportunities.
‘Being an owner’ is one of our core values and we walk the talk by offering meaningful ESOPs to all our team members across all roles, which has helped us build a culture of true ownership, belonging, and growth from the ground up." - Mihir Gupta, Co-founder & CEO, Teachmint
Teachmint is a mobile and video-first teaching platform that has enabled millions of teachers in India to digitize their classrooms. In addition to the continued growth of the app-based platform, we have also expanded the ed-infra offerings with products like Teachmint for Institute and Education Video-as-a-Service. With adoption from 4,000+ educational institutes in India and multiple international edtech partnerships, Teachmint today is the only solution catering to end-to-end infrastructure needs of educators; from K-12 schools to after-school tutoring to universities and even edtechs.