Digital Education platform – TopRankers, has raised INR 4.5 Crore funding from Careernet Consulting and Ideation Initiative Pvt. Ltd. The company plans to utilize the capital to upgrade its services by investing in innovative technology, and also expand its geographical presence in India.
TopRankers is a Bengaluru-based online test preparation portal that enables students to prepare for competitive exams through an innovative platform. It offers comprehensive study materials, and elaborate tests for practice, which are carefully divided in to various chapters and topics. These can help students who are appearing for competitive exams to work on their weak areas and practice accordingly.
Founded in 2014, the dynamic venture currently has offices in Bhopal & Delhi apart from Bengaluru, and has a team of around 40 team members working across centres along with 60 freelancers. The co-founders of the company are Mr. Gaurav Goel, Mr. Malay Sarkar, Mr. Mehbub Hussain, Mr. Harish Goswami and Mr. Himanshu Joshi.
Commenting on the funding, Mr. Gaurav Goel, Co-founder, TopRankers said, “At TopRankers, our vision is to transform the Indian Competitive Exam preparation space with judicious utilization of Information and Communications Technology (ICT), and with such strong financial backup, we are confident of achieving the same within a short time. Since the ICT system has already begun to transform digital education in India, we are driven to provide quality education services to students from all walks of life through our comprehensive platform.”
Elaborating on the funding decision, Rishi Das, CEO CareerNet said “The competitive education segment in India is estimated to be worth USD 6 Billion and with more exam being held online, it is likely to grow exponentially in future. As an up-and-coming venture in this space, TopRankers certainly plays a vital role in transforming the way students prepare for such exams, and also introduce new & innovative technology in this space, which can completely revolutionize the learning process. Therefore, we felt it was the right decision to invest in this promising enterprise, and hope that this company reaches its full potential, transforming the overall perception of students by introducing them to a highly productive platform that acts as their personal tutor.”
Mohit Gupta, MD, Ideation Initiative said “With the growing ICT, we see rising number of competitive exams in almost every field going online. It has been estimated that around 1.8 crores students takes these exams every year. With the international online learning market expected to reach $107 Billion by the end of this financial year, there are numerous players that have already started filling in the gaps. Under such high market receptivity, we felt it was just the precise moment to invest in such ventures, and TopRankers, being a potential venture became an apparent choice.”
Prior to its official launch in April 2016, TopRankers went through rigorous development for a period of almost 18 months. Despite being a newcomer in the realm of digital education, TopRankers has demonstrated phenomenal growth within 3 months, with more than 50,000 users registered on its platform. It has the list of top searches on Google for IBPS/SBI PO/Clerical related exams. Additionally, the All India mock test prepared by TopRankers gives students a rough idea about the different format &types of questions asked on such competitive exams, and help them analyze their weaknesses, giving them ample time to prepare for the main exams.
B2B service provided by TopRankers:Moreover, the company also offers a SaaS product named ‘TopRankers Edge’, a unique software solution for educational institutions that wish to bring their content and modules online. In the next few months, TopRankers team plans to engage more than 150 clients on this product.
TopRankers has more than 35 recognized names as its B2B client from 10 Indian cities, and is planning to expand its business in 50 more cities in the near future. On the B2C side, the company is planning to acquire another 5 lakh students within 12-18 months.
