Edusys Services Pvt. Ltd, a Bangalore based online global education training provider has raised $7.5mn (Rs38 crore) from Sequoia Capital in its first round of funding.
A test preparation and certificate company, Sequoia was launched in 2004 by Tridibesh Satpathy. The company intends to use the funds to strengthen its core team and expand its business through various product introductions. However, the company has not disclosed the quantum of equity dilution to the venture firm and the promoters holding after the first round of funding.
Edusys offers a test prep vertical, MyCATStudy.com, targeted at MBA aspirants preparing for CAT. It conducts numerous online and classroom courses and test preparation modules. Managerial level courses like six sigma certifications, risk management and negotiation skill training, courses related to HR and so on are also provided by the company. These courses according to the company are recognized by International institutions Pennsylvania, USA, Alexandria, Virginia, USA, Human Resources Certification Institute and APMG International, Buckinghamshire, UK. The company has aspirants from round the globe as it has offices situated in US, UK, Australia, Singapore and India.With a customer base of 3,500 firm worldwide and 1 lac students from 150 countries, this tech hub has benefited professionals from across the world.
“The test prep and certification market is a $ 48 billion global industry and we see tremendous opportunity for growth. Edusys has created a technology platform and business model that is capable of delivering high quality courses on a virtual delivery model that is cost effective and highly scalable. The courses are designed to provide maximum flexibility to students with innovative training styles and ease in accessibility” said Tridibesh Satpathy, CEO, Edusys.
Sequoia Capital, in India currently manages funds capitalized at close to US $1.4 billion and invests across venture, growth and late stage opportunities. This is Sequoia’s fifth investment in India since January 1. Earlier the company had made investments in Café Coffee Day, Just Dial, Paras, Fashion & You, Micromax, Idea Cellular, Quick Heal and many more.
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