SuperProfs raises $3M Series A from Kalaari Capital and IDG Ventures
Bengaluru-based SuperProfs.com, a product of Aurus Network, has raised $3 Million from venture capital firms Kalaari Capital and IDG Ventures India. This round of funding will be used for scaling up its product offerings to other competitive exams and speed expansion into newer markets across India. Currently SuperProfs.com offers online courses for competitive exams like CA, CS, CMA and GATE. Khetal Advisors, a Bengaluru based investment banking advisory firm, was the exclusive advisor to Aurus Network for the entire transaction.Aurus Network was founded by IIT Kanpur graduates Piyush Agrawal and Sujeet Kumar in 2010. The company had earlier raised an angel round of funding from Indian Angel Network which includes Ajai Chowdhry, co-founder of HCL Infosystems and Sharad Sharma, Former CEO, Yahoo India R & D. (read our first interview with Aurus back in 2011)
Launched in January 2014, SuperProfs connects professors and students by providing live and recorded lectures through online video streaming making classrooms more accessible. This facility is enabling better access and learning possibilities for students and a wider reach for professors. The platform is powered by technology allowing live transmission of HD quality videos at low bandwidth. It is an online live or recorded video delivery solution that brings classrooms of popular professors for competitive exams, so that students can attend their classes anywhere, anytime.
More than 25,000 students have already registered on the platform and the company has partnered with the most popular professors from Delhi, Bangalore, Hyderabad and Mumbai for various competitive exams. Speaking on the occasion, Piyush Agrawal, CEO and Co-founder of Superprofs.com, said,
Over the last few years online channels are gaining rapid adoption. Besides tier 1 cities, we are increasingly witnessing a significant number of students from tier 2 and 3 towns who earlier could not prepare well for such exams due to a lack of good teachers in their city, adopting online exam preparation at SuperProfs.com.
Online Test prep market in India is projected to become a multi billion dollar industry with over 15 million students preparing and appearing for various competitive exams annually. The investors believe Superprofs.com provides a unique combination of effective classroom training and proprietary world-class technology. The belief is that this platform will scale rapidly through the online delivery model with the mobile as the next frontier.