CollegeDekho closed Series B funding with $35 million
CollegeDekho, a college admissions and higher education services platform announced the closure of its Series B funding raising $35 million with investments from Disrupt ADQ and QIC.
The round has been led by Winter Capital, ETS Strategic Capital, the private equity investments arm of ETS, Calega and existing investor Man Capital, who infused $26.5 million in September.
CollegeDekho uses proprietary technology and an AI-based conversation bot to connect prospective students with colleges. CollegeDekho intends to use the funds to expand its offerings to students and colleges in India and around the world. The company will increase its investment in products and technology while expanding into new verticals such as Ed-Fin-Tech, student housing, and higher education coaching. It is also thinking about expanding its study abroad services in international markets. The funds raised will also be used for acquisitions and consolidation that make strategic sense for the company.
The funds raised will be used to improve its offerings for students and colleges both in India and abroad, the startup said. It will also increase its investment in products and technology while expanding new verticals like education-led financial offerings, student accommodation, and coaching for higher education.
It is considering expanding its study abroad services in global markets. The company will also use the funds raised for acquisitions and consolidation.
Six-year-old CollegeDekho connects prospective students with colleges using its proprietary technology and artificial intelligence-based conversation bot.
It also offers a common application form platform that enables students to apply to multiple colleges with a single click. For study abroad students, CollegeDekho offers a full range of services from profile building, test preparation, university selection, and visa assistance.
“Following the fruitful completion of Series B funding, we will be expanding our team, and platforms to serve a larger number of students and colleges. We will also increase our investment in products and technologies, while fueling our growth in our new verticals such as education loans, student accommodation and coaching for higher ed. Even as we double down on our efforts to increase our reach in the Indian market, we will also consider expanding our presence abroad,” said Ruchir Arora, founder and chief executive officer (CEO), CollegeDekho.
CollegeDekho also recently launched equated monthly installment (EMI) based education financing and insurance products to enable more and more students to get access to an education of their choice.
“We are happy to welcome ADQ and QIC along with ETS Strategic Capital as our co-investor in CollegeDekho. We are convinced that partners as solid as these joining the pool of investors further strengthens the prospects of success for CollegeDekho and proves the value of investment in EdTech, which is poised to reach $10 billion in size in the next 5-10 years,” added Anton Farlenkov, managing director at Winter Capital Advisors.
CollegeDekho has recently launched innovative 0% EMI based education financing and insurance products to enable more and more students to get access to an education of their choice. The platform helps colleges by making their admissions more efficient and predictable. The company plans to build services to help students with higher education coaching as well as student accommodation services.
In his comments about closing of Series B funding, Ruchir Arora, Founder & CEO, CollegeDekho, said, “We believe that our sound business model, innovative products, our commitment to excellence in service delivery, and growing Student base continue to help us win the trust of investors who have global exposure and experience in higher Ed tech. Their participation in our growth story is a testimony that we are delivering on our mission of transforming the higher education journey of students.
Following the fruitful completion of Series B funding, we will be expanding our team, and platforms to serve a larger number of students and colleges. We will also increase our investment in products and technologies, while fueling our growth in our new verticals such as education loans, student accommodation and coaching for higher ed. Even as we double down on our efforts to increase our reach in the Indian market, we will also consider expanding our presence abroad.”
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