SaaS Startup Edmingle raises $1million In Pre-Series A funding led by IAN
- ByStartupStory | November 22, 2022
In its Pre-Series A Round, managed by Indian Angel Network, Edmingle, a SaaS platform for small and medium-sized training and coaching enterprises, raised $1 million (IAN). The investment round at IAN was spearheaded by investors Jaideep Mehta, Rahul Mahipal, and Ms Vasudevan. Along with previous investors, SucSEED Indovation Fund and Mumbai Angels Network, Keiretsu Forum also invested in the Pre-Series A round. With this investment, Edmingle will grow its marketing and sales channels, go global, and automate its product to aid training companies in increasing sales and retaining students around the world.
The goal of Edmingle, a company founded in 2016 by Gaurav Doshi, Prashant Agarwal, and Harshit Sharaff, is to enable training and education providers to accelerate the global dissemination of high-quality training and education. The platform enables training companies to develop their online programmes and services, automate the enrollment and payment collection processes, deliver their courses in highly engaging self-paced or live modes, manage learner communications, and provide analytical reporting for company owners and creators to gain insight into the performance of their Online Academy.
Traditional small and medium-sized training organisations now realise that in order to scale and survive in the post-pandemic era, they must have a strong online presence in addition to their offline strategy. More than 700 small and medium-sized training organisations, as well as some Ed-Tech firms, have drastically decreased their technology investment and go-to-market time by at least ten times using Edmingle. These companies have expanded internationally and are now providing training to 1 million students in more than 100 nations.
They have complete control over their brand, data, and content security thanks to Edmingle’s online training academy’s ability to be fully white-labelled and tailored to their requirements. Edmingle, with its headquarters in Bangalore, experienced rapid growth following the pandemic. As the professional and coaching market segment continues to rise online or, at the very least, pursue a hybrid strategy, it has seen a 400% increase in student engagement. It is a trusted platform for some of the nation’s fastest-growing online training enterprises, with a retention rate of 90%. These companies are able to concentrate on learner acquisition and content creation, which are the biggest drivers of their growth because Edmingle is in place to take care of their technology needs. Since their Seed round in June 2021, Edmingle’s revenues, customer base, and valuation have increased by over 5X.
“Given the highly personalised nature of professional and vocational training categories, we strongly believe that a huge number of independent organisations and individual experts have the opportunity to create a profitable and niche market for themselves,” said Gaurav Doshi, founder and CEO of Edmingle. The biggest obstacle to these organizations’ and creators’ growth is a scalable and simple-to-maintain technology platform, and that is exactly what Edmingle solves for them. According to IAN Lead Investor Jaideep Mehta, “The demand-supply gap in terms of quality teachers and content is enormous in India and even globally. The noble goal of Edmingle is to assist conventional education and training institutions in going digital and embracing new modes of instruction and knowledge transfer. We feel confident partnering with the platform because of its business model, which is capital-efficient and has strong unit economics.
According to a report by RBSA Advisors, the Indian EdTech industry was valued at US$ 750 million in 2020 and is anticipated to reach US$ 4 billion by 2025 at a CAGR of 397.7 per cent, according to Vikrant Varshney, Co-Founder and Managing Partner of SucSEED Indovation Fund. The need for customisation in the EdTech industry and the increasing demand for non-academic courses from Tier II and III cities are the main drivers of this growth. Individual creators, SMBs, and enterprise clients can all access Edmingle’s SaaS platform, which enables them to provide these services at scale. This further enables them to broaden the target market and increase their market share. India is currently the second-largest market for online education. The Indian EdTech market is anticipated to grow from $700–800 million in 2021 to $30 billion by 2031. Edmingle is assisting educational brands in focusing on learner acquisition and content creation, which are the main drivers of their growth, in an effort to help them establish themselves in the market and expand their ed-tech businesses.
Follow Startup Story
Related Posts
