Centum Learning raises Rs 40 crores from Mayfield India Fund

Centum Learning is a leading company in the higher education and

skill-building domain

Centum Learning (a Bharti associate company) today announced that Mayfield India Fund has made an investment of Rs 40 crores in Centum Learning Ltd.

Centum Learning, a leading player in the higher education domain has set up more than 130 learning centres in 90 cities across India to make a significant contribution in bridging the existing gap between academia and industry requirements. It has now launched another initiative- Centum U - Institute of Management & Creative Studies, which offers various undergraduate and postgraduate programmes in association with world-renowned institutions in New Delhi, Mumbai, Pune, Mohali and Hyderabad. Besides this, Centum Learning is actively engaged with the State Governments to develop globally deployable skilled manpower and enhance employability quotient of both urban and rural youth.

Announcing the development, Mr. Rakesh Bharti Mittal, Chairman, Centum

Learning said, "India's fast growing economy needs quality manpower to take

forward its success story. The education, training & development segment has

immense growth potential in India and Centum Learning is well positioned to

unlock this potential. This investment from Mayfield is an endorsement of

the company's vision and we are delighted to have them as a strategic

partner."

This new investment reflects Mayfield India Fund's investment theme of

adding value to growth stage companies in the consumer sector. MF Advisors

Managing Director, Vikram Godse would be joining Centum's board of

directors. Speaking on the investments, Mr. Godse, said "The education

industry in India is going through a transformation in the way higher

education and skills development is being implemented. Centum is at the

centre of this change . We are excited by the company and its founders bold

vision to build India's foremost education and skills company. Given their

proven track record of execution, we believe this is a tremendous

opportunity.

Commenting on this partnership, Mr. Sanjeev Duggal, CEO & Executive

Director, Centum Learning said, "It gives me great pleasure to partner with

Mayfield India, which has many success stories behind it. This partnership

will help us embark upon an enhanced growth trajectory in this vastly

under-supplied education and professional skills sector. We believe that

meaningful education and skill enhancement of youth would truly transform

the socio-economic landscape of our country and we have sufficient business

acumen, knowledge and experience to achieve scale with standards in this

domain."

Centum Learning has recently received the coveted Gold Award for "Excellence

in Training" at the World HRD Congress, 2010 and has been adjudged as one of

the 'Top 16 Training Outsourcing Watchlist 2010.'

About Mayfield

Over the past 40 years, Mayfield Fund has been at the forefront of investing

in emerging businesses that have grown into industry leaders. Mayfield Fund

invests in the U.S., China and India and currently has $2.4 billion under

management. It has invested in over 480 companies of which 105 have had

initial public offerings and another 160 have been acquired. Some of

Mayfield past investments include Compaq, Amgen, SGI, 3COM, Sandisk, Citrix,

Cypress Semiconductor, Intuitive Surgical, Web Methods, Tibco, 3PAR and LSI

Logic.

Mayfield started investing in India in 2006, and with a dedicated India

fund, raised in 2008, has made direct investments in companies like Satya

Paul, Geodesic Techniques Fourcee andPaymate. Mayfield India focuses on companies with substantial operations inIndia that have the potential to become global leaders, with a specialinterest in Consumer, Specialty retail, technology & technology enabled services, infrastructure ancilliaries and Agri related companies.