Toddle, a Bengaluru-based EdTech and SaaS platform, reported a 2X growth in revenue to Rs 71.35 crore in FY24, compared to Rs 34.46 crore in FY23. Over 89% of its revenue in FY24 was derived from operations, a decrease from over 93% in FY23. Its operating revenue streams include revenue from the sale of software services, which contributed approximately 99% to the operating revenue, and fellowship services, which accounted for the remaining 1%.
Founded in 2019, Toddle provides AI-powered tools for curriculum planning, assessments, progress tracking, and school-home communication. Serving over 2,000 progressive schools globally, the platform empowers teachers to deliver personalized learning experiences. Built by teachers for teachers, Toddle is widely trusted for its intuitive interface and comprehensive functionality, going beyond traditional LMS solutions.
The company’s expenses grew by 76% to Rs 132.30 crore in FY24, up from Rs 75.05 crore in FY23. Employee benefit costs remain the largest expense, accounting for 53.96% of total expenses in FY24, up from 52.30% in FY23. Advertisement expenses saw a significant rise, increasing to 9.05% of total expenses in FY24, compared to 3.68% in FY23. Depreciation and finance costs, meanwhile, decreased as a proportion of total expenses, highlighting improved operational efficiency.
Toddle’s losses widened by 50% to Rs 61.35 crore in FY24, compared to Rs 40.77 crore in FY23. However, its EBITDA margin improved to -82.18% in FY24 from -112.20% in FY23, indicating progress in operational scalability. ROCE, however, deteriorated significantly to -112.16% in FY24 from -37.37% in FY23, reflecting the heavy investment phase of the business.
The company has raised a total of Rs 180.88 crore across five funding rounds, with the latest Series A round in December 2022. Co-founders Deepanshu Arora and Parita Parekh are the largest individual shareholders, each holding 15.88% of the company, while Tenacity Ventures holds 4.87%, and the ESOP pool accounts for 8.61%.
Despite widening losses, Toddle’s strong revenue growth and rising global adoption signal a promising trajectory as it scales its operations to transform the education ecosystem.