Interview with TutorBin CEO, Praveen Lather
Parveen Lather holds the position of CEO of TutorBin, a doubt-solving bootstrapped EdTech Company, which was founded by him along with his two friends in 2017. He is responsible for running all facets of the business. He earned his graduation and masters in Geophysics from IIT Kharagpur. Before starting TutorBin he himself has a lot of experience in teaching students of different countries as well as he is very much interested in developing new technology-enabled products that can solve ground-level problems and the experience can be clearly seen in the TutorBin’s growth journey. More details about the company are at www.tutorbin.com
- Edtech has seen a lot of traction in the past few years. Is this growth sustainable?
Parveen Lather: We have seen a lot of traction in the Edtech domain in recent times and this growth is here to stay and especially due to coronavirus it gets the required push. But again this high growth is not dependent on any major factor but it’s due to the combination of many factors which are the need of the hour like fast-changing technology as well as access of technology to all kinds of people across the globe with which there is no boundary left of knowledge share, the competitive environment which has increased recently a lot and finally the spread of awareness of the benefit of education which has reached to even the last mile across the globe, so I believe it’s just the starting and we will see a lot of growth in this sector.
- Tutorbin is doing really well. What is the size of the market and what is your estimated market share?
Parveen Lather: The overall market size of EdTech is around USD 110 billion in 2021. TutorBin is doing really great, and our growth in 2021 is 400% as compared to last year.
To be specific, Edtech is a huge huge vast area and no company can provide all the services. But in our domain, we are growing at a very fast pace and serving more than 5000 students every week with personalized tutoring.
- The education sector is very fast. Which segment do you focus on, and why?
Parveen Lather: Within the education sector we focus on mainly personalized learning. Why we are focusing on this is because there are a lot of students who are unable to walk side by side with the speed of a teacher who teaches the students in a group and genuinely this is a huge problem. So we focus on connecting the student with an expert tutor, who will be connected with the student till all the doubts of students get cleared and can learn the way an expert explains.
- What role do you think India should play in global education?
Parveen Lather: According to me India will play a major and vital role in Edtech in the coming years. The reason behind this is that there is a lot of demand and it’s the biggest market. There are 2 reasons for increasing demand in India: one is increasing the importance of education in one’s life and the other is the growth of the internet as well as the reach of mobile phones to every Indian.
The other important thing is the quality of tutors which India has. You can see in any Edtech firm there is a craze for an Indian Expert Tutor and many companies as well students want their expert to be Indian. So, India plays a very important role as service seeker and provider both have a lot of demand in this domain.
- How can Tutorbin help students get better grades?
Parveen Lather: TutorBin provides personalized tutors to each and every student. A student can ask and clear all its doubts completely by connecting with the expert tutor till he/she gets satisfied. It helps them to learn the concept completely and improve the learning as they get well-written step-by-step solutions as well as videos of that solution which results in good grades.
- Which areas do students struggle most with?
Parveen Lather: We believe learning starts from the point you get stuck, across the globe students always feel shy in asking doubts in the classroom. Our main focus is to remove this pain point from student life. The education sector is mainly focusing on content-based models but i believe there are numerous ways to access the content but a student needs personalization to his doubts, with the help of technology we are making it simpler.