Edtech

CollegeDekho Secures $9 Million in Extended Series B Round from Existing Investors

• ByStartupStory     |    July 8, 2024

Higher education services platform CollegeDekho has successfully raised $9 million from its existing investors in an extended Series B funding round, according to sources from Inc42. Although the specific names of the investors were not disclosed, the sources revealed that the investment was made through a special purpose vehicle (SPV).

Among the notable existing investors of CollegeDekho are Winter Capital Partners, ETS Strategic Capital, Calega, QIC, and Man Capital. The valuation of the startup remains unchanged at $138 million, consistent with its last valuation.

The startup last raised $9 million from Winter Capital Partners in December 2022 during its initial Series B funding round. Despite efforts to reach out, CollegeDekho did not provide any comments on the latest funding round.

Founded in 2015 by Ruchir Arora, Saurabh Jain, Rohit Saha, and Rajiv Singh, CollegeDekho offers a wide range of services in the higher education sector. These services include test preparation, college selection, and application assistance. The startup has also expanded its business through strategic acquisitions. In February 2022, CollegeDekho acquired edtech platforms Getmyuni and IELTSMaterial for approximately INR 50 crore. A month later, it acquired PrepBytes in a cash and equity deal to enhance its service offerings.

CollegeDekho claims to have counseled over 70 lakh students and collaborated with nearly 1,500 colleges. The startup also boasts more than 16 crore visitors on its various higher education discoverability platforms.

To date, CollegeDekho has raised over $90 million in total funding. The startup reported a revenue of INR 239 crore for the financial year 2023-24 (FY24), as learned by Inc42. In FY23, CollegeDekho incurred a standalone loss of INR 120 crore on a revenue of INR 141 crore. It is important to note that the startup has not yet filed its financial statements for FY24 with the Ministry of Corporate Affairs.

CollegeDekho faces competition from other players in the market, including LeverageEdu, CollegeDunia, Embibe, and GetMyUni.

This development was first reported by INC42 Media.

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