IAN leads $1 mn Pre-Series A round in Edmingle
The platform will use the capital to expand its global footprint and scale its marketing and sales channels.
Edmingle will further strengthen and automate its products to help training businesses grow their sales and retain learners globally
New Delhi: Edmingle, a SaaS platform for small and medium-sized training and coaching businesses, has raised $1 million in its Pre-Series A Round, led by the Indian Angel Network (IAN). Investors Jaideep Mehta, Rahul Mahipal, and Ms Vasudevan led the funding round at IAN. Besides IAN, Keiretsu Forum joined the Pre-Series A round, along with previous investors, SucSEEDIndovation Fund and Mumbai Angels Network. With this investment, Edmingle will expand globally, scale its marketing and sales channels, and automate its product to help training businesses grow sales and retain learners globally.
Founded in 2016 by Gaurav Doshi, Prashant Agarwal & HarshitSharaff, Edmingle’s mission is to empower training and education businesses to catalyze the spread of quality education and training to all corners of the world. The platform enables training businesses to create their online courses and services, automate their enrolment process & payment collection, deliver their courses in a highly engaging self-paced or live mode, manage learner communications and provides analytical reporting for business owners and creators to get insights into the performance of their online Academy.
Post-pandemic era and learner behavioural changes have made it evident to traditional small & medium-sized training organizations that a strong online presence in addition to their offline approach is inevitable to sustain and scale. Using Edmingle, 700+ small and medium-sized training businesses and even some Ed-Tech companies across various categories have significantly reduced their technology investment and go-to-market time by at least 10 times. These businesses have gone global and are currently delivering training to 1 Million learners across 100+ countries.
Edmingle’s online training academy can be fully white-labelled and customized to their needs, thus giving them full control over their brand, data and content security.
Headquartered in Bangalore, Edmingle grew significantly in the post-pandemic times. It has witnessed a 400% boost in student engagement as the professional and coaching market segment continues to soar online or, at the least, follow a hybrid approach. With a 90% retention rate, it is a trusted platform for some of the fastest-growing online training businesses in the country.
With Edmingle in place to take care of their technology needs, these businesses can focus on Learner Acquisition and content creation which are the biggest drivers of their growth. Edmingle has grown over 5X in revenues, customer base and valuation since their Seed round in June 2021.
Gaurav Doshi, Founder & CEO of Edmingle, said, “Given the highly personalized nature of professional and vocational training categories, we strongly believe that a huge number of independent organizations and individual experts have the opportunity to create a profitable and niche market for themselves. While these organizations and creators are masters of their content, the biggest barrier to their growth is a scalable and easily maintainable technology platform, and that’s exactly what Edmingle solves for them.”
Jaideep Mehta, IAN Lead Investor, said, “In India and globally, the demand-supply gap in quality teachers and content is immense. Edmingle’s noble mission is to help traditional education and training institutions digitalize and embrace the new way of teaching and knowledge distribution. The platform’s business model is capital efficient and has sound unit economics, which gives us the confidence to partner with them through their journey.”
Vikrant Varshney, Co-Founder & Managing Partner SucSEEDIndovation Fund, said, “As per RBSA Advisors report, the Indian EdTech industry was valued at US$ 750 million in 2020 and is expected to reach US$ 4 billion by 2025 at a CAGR of 39.77%. This growth is hugely driven by rising demand for non-academic courses from Tier II & III cities and the need for personalization in the EdTech space. Edmingle offers its SaaS platform to individual creators, SMBs and enterprise clients, enabling them to offer these services at scale. This further helps them widen the target market’s scope and capture a larger market share.”
Currently, India is the second-largest e-learning market. The Indian EdTech market is projected to touch $30 billion by 2031 from $700-800 million in 2021. Striving to help educational brands make a mark in the industry and grow their ed-tech business, Edmingle is helping them to focus on learner acquisition and content creation which are the biggest drivers of their growth.
Edmingle is a SaaS platform for small and medium-sized training and coaching businesses to build their branded Online Training Academy, scale their operations and manage their business end-to-end. The fully integrated, plug & play SaaS platform enables these training businesses to CREATE, TEACH, GROW and MANAGE their course sales, training delivery and operations.
Using Edmingle, 700+ small and medium-sized training businesses and even some Ed-Tech companies across various categories have significantly reduced their technology investment and go-to-market time by at least 10 times. These businesses have gone global and are currently delivering training to 1 Million learners in 100+ countries.