Teachmint unveils CELP plan to reward employees

Hyderabad Educational infrastructure startup Teachmint on the heels of its latest series B fundraise of $78 mn, has announced a Continuous ESOP Liquidity Plan (CELP) to reward and recognise the contributions of its team. This initiative also makes the company among the first Indian startups to give its team members complete control over the liquidation of their ESOPs. The fundraise was 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 Teachmint's workforce will be able to liquidate their vested ESOPs against cash at any point of time over the next one year. What differentiates this initiative is that it puts the timing and quantum of such liquidation in complete control of the individual. With the aim of scaling its current user base from 10 million to 100 million and beyond, the platform is focused on doubling its team strength over the next six months with a focus on product, technology and design skills. An initiative like CELP will also fuel the company's hiring initiatives and help them groom top quality talent.

Mihir Gupta, Co-founder and CEO, Teachmint, said: "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."