[Funding alert] Edtech startup Mindler raises $1.5M in pre-Series A round
Edtech startupsaid it has raised $1.5 million in a pre-Series A funding round from investors including Ecosystem Ventures, Inflection Point Ventures, nVentures Singapore, and Chennai Angels.
Mindler said it will use the funds to expand its team, enter new geographies and to form partnerships.
The startup had raised $1 million from Inflection Point Ventures in January this year.
"We are focusing on both the demand and supply side of the career guidance landscape and thus creating a sustainable model for long-term client engagement and retention. We are driving a movement to enable students to take a scientific approach towards career decision-making," said Prateek Bhargava, Founder and CEO, Mindler, in a press release.
Founded in July 2015, Mindler is a tech-enabled ecosystem for career planning and development for students and aims to empower all stakeholders in the student career decision-making journey.
Apart from a comprehensive career guidance platform for students, Mindler also offers a SaaS platform for educators and edtech partners to create their own career guidance ecosystem.
The startup said it saw a more than 90 percent client retention rate last year, which was a "landmark" one for it. It plans to grow 10X within the next calendar year, and make strategic collaborations.
"Selecting a right college and course continues to be the most complex decision in the life for any student. Parents often pay huge costs to get the right career guidance and help in admissions. With 1.2 crore students completing 12th every year, this is a massive problem with no organised player," said Abhishek Sanghvi, Co-founder of Ecosystem Ventures.
"Mindler is using AI algorithms, psychometric testing, and an army of certified counsellors to provide timely guidance to students," he added.
Mindler is run by the alumni of prominent colleges such as ISB, IIT, IIM, and Harvard. The startup hopes to grow its alumni pool across the globe soon.