Gurugram-based CollegeDekho, college admissions, and education services platform, on Wednesday, announced that it has raised $26.5 million in an ongoing (and oversubscribed) Series B funding round led by Winter Capital Partners, ETS Strategic Capital (the private equity investments arm of ETS, creator of the TOEFL and GRE tests), Calega and existing investor Man Capital and Rajeev Chaba.
The company had last raised $8 million in May 2019.
With this funding round, the company plans to further improve its offerings for students and colleges, increase its investment in product and technology, expand internationally and grow new verticals like ed-fin-tech and student accommodation.
“CollegeDekho is at an exciting phase of growth in its mission to connect students and colleges across geographies. We welcome Winter Capital, ETS, and Calega to the CollegeDekho family and thank Man Capital and Rajeev Chaba for their continued trust in us. Their global experience and precious insights in edtech shall be invaluable in our growth journey. The tremendous response we are seeing from students, parents, and colleges continues to energize us to build world-class products and services for them. All of this would not have been possible without the passion and commitment of the CollegeDekho family. With this fundraise, we plan to invest in making our products and services even more lovable for our students and colleges, as well as expand into new geographies and business verticals,” said Ruchir Arora, founder, and chief executive officer, CollegeDekho.
With an aim to institutionalize higher-ed counseling, CollegeDekho’s edtech platform helps connect prospective students with colleges using its proprietary Technology and its AI-based conversation bot.
We are excited to be making a debut in India with an investment in CollegeDekho - one of the fastest-growing education service providers in India, with exceptional traffic, currently estimated at 1.5 million visits per month. India has about 52,000 colleges, of which around 66 percent are private educational institutions. We believe that India’s edtech industry is poised to reach $10 billion in size in the next 5-10 years, compared to the current market size of about $2.5 billion. We see this investment as promising and well-aligned with our strategy to expand our investment portfolio via dynamic, high-quality assets,” noted Anton Farlenkov, managing director, Winter Capital Advisors.
The platform owns the Common Application Form (CAF) platform which enables a student 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, application assistance, university selection, and visa assistance.
“We continue to identify and invest in companies both domestically and internationally whose missions and long-term vision align with that of ETS,” commented Ralph Taylor-Smith, managing director, ETS Strategic Capital. “We’re pleased to further expand the ETS portfolio with this investment in service of the organization and focus on making equitable education available to all learners at all stages, globally.”
CollegeDekho has recently launched innovative 0 per cent 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.
“We are glad to have partnered with CollegeDekho’s founders since day one. We continue to believe in and support the company’s vision. CollegeDekho is at the forefront of a rapidly expanding and growing edtech market in India. In addition to the exponential growth in college admission and the wider Indian edtech market, we are also seeing a rise in integrated solutions for college students across the globe. We believe that CollegeDekho is very well positioned to expand its services and reach to become a leading global player over the coming years,” added Mohamed Mansour, chairman, Man Capital.
This Series B funding round has been advised by IBIS Capital, a specialist investment and corporate finance advisory group focused on global media and education, and by Cilix Capital, an international investment banking firm that helps companies as well as institutional investors with fundraises and M&A.
