Testbook Edu Solutions Pvt. Ltd, which operates an education-technology platform focussed on government examination preparations, has raised ₹ 60 crore in its Series B funding round.
As per the Testbook statement to media, the round was led by growth-stage investor Iron Pillar. Other investors that participated in the round include Matrix Partners India, Better Capital, AngelList India, and Reliance Jio president Vikas Choudhury.
As per Ashutosh Kumar, co-founder and chief executive officer at Testbook, the company will use the funds to scale up its live course and mock test offerings to 400 exams from the current 100.
“Testbook will also invest in data science and machine learning to make the entire learning cycle adaptive for students so that the curriculum and their study plans are personalised for them,” Ashutosh Kumar said.
Separately, Iron Pillar managing partner Sameer Nath said the growth-stage firm was confident in its investment because of its differentiated approach, the size of its potential market and the result-oriented curriculum.
Testbook started its operations in January 2014. The firm was founded by a group of IIT – Bombay and Delhi alumni – Ashutosh Kumar, Narendra Agarwal, Yadvendar Champawat, Abhishek Sagar, Manoj Munna and Praveen Agarwal. The company’s platform helps customers prepare for government jobs and competitive examinations such as SBI PO, SSC GL, IBPS PO, IBPS Clerk, LIC AAO and CAT, among others.
In April 2017, the company raised an undisclosed sum of money in funding from Matrix Partners India, saying it would use the funds to enhance its product offerings.
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