Mumbai-based Neev Knowledge Management Pvt. Ltd. backed EduPristine which offers online and classroom-based certification courses, has raised $10 million from private equity fund Kaizen Management Advisors and US-based education company DeVry Inc. Accel Partners, which invested $1.5 million in the company, exited with this round of funding. The company had also raised an undisclosed amount in angel funding from Mark Mobius and Rajesh Sehgal. The company will use the newly raised funding to increase its course offerings, grow to 15 cities in India and improve technology.
Founded in 2008 by Atul Kumar, Paramdeep Singh, Pawan Prabhat and Sarita Chand, EduPristine offers certification in 15 types of courses across accounting, analytics, digital marketing and finance, using a network of centres and online classes. Going forward, the company plans to add more courses in the category of big data analytics and also introduce courses in the healthcare category.
The firm is offering courses to around 30,000 students and is targeting to clock $15-18 million in revenue in the current financial year as well as also looking to grow to a network of 25-30 learning centres.
Other firms which operating in the space are Simplilearn Solutions Pvt. Ltd, raised $10 million in second round of funding from Helion Venture Partners and Kalaari Capital in 2013 and Wiziq.com secured $4 million in Series B round of funding from Kaizen Capital and Germany-based global media company, Bertelsmann SE and Co.
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