CollegeDekho, a platform for college admissions and education services, has raised $26.5 million in a 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). Existing investors Man Capital and Rajeev Chaba also participated in the funding round.
With the raised funds the education services platform will improve student and college offerings, increase its investment in product and technology, expand globally, and expand across new verticals such as Ed-Fin-Tech and student residences.
CollegeDekho claimed that it had already introduced funding for EMI-based education and insurance products so that more students could access their preferred education.
The previous fundraiser was $ 8 million in May 2019 led by existing investors GirnarSoft, Man Capital in London, and others. Both investors were also leading the $ 2 million Series A round of the CollegeDekho 2018.
Ruchir Arora, Founder and CEO of CollegeDekho, said, “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 continue to energise 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.”
Anton Farlenkov, Managing Director at Winter Capital Advisors, said, “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. India has about 52,000 colleges, of which around 66 per cent 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.”
The Series B funding round was advised by IBIS Capital, a specialist investment and corporate finance advisory group and by Cilix Capital, an international investment banking firm.