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01/04/2007

TutorVista Secures $10.75 Million Second Round Funding

TutorVista , the leading online tutoring and test preparation provider, recently announced the closing of a $10.75 million round of series B funding led by Lightspeed Venture Partners. Lightspeed contributed $7 million to the round while Sequoia Capital India and Silicon Valley Bank contributed an additional $3.75 million. TutorVista will use this new funding to expand all services and operations across the globe.

“TutorVista is building the next big internet education company,” said Ravi Mhatre, general partner, Lightspeed Venture Partners. “Lightspeed's investment will enable TutorVista to continue its rapid growth in U.S., U.K. and other countries. We are looking forward to working with the company to meet the educational needs of thousands of students around the world.”

“This new round of funding speaks to the innumerable benefits our online tutoring and test-prep services are providing students across the U.S. and around the world,” explained TutorVista founder and chairman Krishnan Ganesh. “Not only have we seen tremendous growth over the past year, but we have noted overwhelming support for our efforts to provide a low cost, high effective solution to many of the problems facing the American education system. This funding will expand our operations to answer the growing demand for online tutoring and test prep.”

Launched in 2005, TutorVista’s personalized, one-on-one online tutoring and test-preparation services are currently available in the United States and United Kingdom for K-12, college and graduate level students in many subjects and exams.

TutorVista’s programs are customized to ensure more time is spent targeting students’ problem areas and enrichment interests to maximize learning, grades and test scores with the available time. Online sessions begin with a diagnostic assessment to identify student strengths and weaknesses, followed by individualized learning strategies. Virtual classrooms are equipped with voice and chat (IM) messaging as well as an electronic whiteboard for interactive use by both student and tutor. Unlike most classroom-style tutor and test prep, TutorVista’s one-on-one approach guarantees a high level of individualized attention at a fraction of the cost of most leading test preparation and tutoring companies.

TutorVista is an online tutoring company that provides affordable tutoring and test preparation in the United States and United Kingdom. TutorVista uses technology to bring high-quality tutoring to the student’s home and highly qualified tutors to make tutoring both affordable and convenient. TutorVista is the solution to problems like declining test scores, a shortage of teachers, and the lack of affordable and effective supplementary education and test preparation.

For more information, please visit: www.TutorVista.com