Thu, Oct 27, 2016 | updated 08:29 AM IST

TopRankers raises Rs. 4.5 crore from Careernet Consulting, Ideation Initiative

Updated: Sep 09, 2016 17:32 IST

New Delhi [India], Sep 9 (ANI): Digital Education platform TopRankers announced raising Rs. 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 and Delhi apart from Bengaluru, and has a team of around 40 team members working across centers along with 60 freelancers.

The co-founders of the company are Gaurav Goel, Malay Sarkar, Mehbub Hussain, Harish Goswami and Himanshu Joshi.

"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," said Co-founder TopRankers, Gaurav Goel.

"The competitive education segment in India is estimated to be worth USD six 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 and 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," said CEO CareerNet, Rishi Das.

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 five lakh students within 12 to 18 months. (ANI)