[Funding alert] Skilling platform Caymus Technology raises Rs 1.2 Cr in angel round
Mumbai-based skilling platform, Caymus Technology Ventures (Caymus), has raised Rs 1.2 crore in an angel round from a clutch of angel investors from India and the US.
Silicon Valley technology leader, Rob Solomon, participated in the round, and will join the advisory board as a mentor.
The startup said it will use the capital to fuel its growth and make significant investments to its core AI-based technology and product stack.
Caymus was started in 2018 by Kavita Mehta, a serial entrepreneur, who had earlier co-founded The Red Pen, an education platform for global university and MBA placements.
Kavita Mehta, Founder and CEO, Caymus said,
“Today there are many online platforms that bring instructional content from universities and organisations to learners’ personal space, allowing them to upskill while working. Such players have cracked open the edtech market in a big way. Now, however, there is mass confusion over which courses to opt for. On Lore, we leverage AI so that candidates can make their own informed, right-fit decisions about the skills they want to add to their portfolio.”
Caymus’s flagship product, Lore, is targeted at recent graduates and experienced professionals looking to upskill themselves. It helps individuals navigate a myriad of learning options, and its proprietary engine uses 20+ data points to make recommendations based on an individual’s specific criteria.
Rob Solomon, CEO of San Francisco-based crowdsourcing platform GoFundMe and Caymus investor said,
“I have known Kavita for over two decades and have worked closely with her at two global companies. This long-standing association gives me confidence that she possess the right skill sets, range of experiences, and global network to make an impact at scale.”
Jigar Shah, Founder of investment advisory firm Found Capital, also advised on the deal.
In June this year, edtech startups such as Degreed and ConceptOwl also secured Rs 245 crore and Rs 3.5 crore, respectively.
Bengaluru and San Francisco-based Degreed received funding from existing investors Owl Ventures, Jump Capital, Signal Peak Ventures, and GSV Accelerate participated in the round, along with new investor Alliance Bernstein.
Separately, the company also secured about $40 million (Rs 280 crore) in venture debt from Alliance Bernstein Growth Stage Capital.
ConceptOwl got backing from seed-stage investment platform Indian Angel Network.