Love at First Pitch: Fundraising Success Story of Eruditus Executive Education
In the world of startups, pitch meetings are like blind dates for investors. Eruditus surely swayed the investors by showcasing their potential and leaving them wanting more.
In the world of startups, pitch meetings are like blind dates for investors. You have one shot to make a good impression, showcase your potential, and leave them wanting more.
2010: Eruditius Journey Begins
Eruditus' journey began in 2010, fueled by a passion to democratise high quality knowledge in India. They partnered with prestigious universities like MIT, Columbia, and INSEAD, bringing their elite curriculums to professionals through classroom programs. It was a noble pursuit.
2017: BII and the Seeds of Transformation
In 2017, it was love at first pitch for Bertelsmann India Investments (BII). The founders' passion ignited a spark in the investors, but like two star-crossed lovers, the timing wasn't quite right. BII recognised the potential but suggested a pivotal shift: "The business is strong," they advised, "but this isn't the investment stage yet. Gravitate from the offline model and dive into the developing world of online education." BII also shared the success stories of education sector from their portfolio to provide further guidance. While the investment wasn't meant to be then, BII's invaluable advise planted a seed that would blossom later.Executive Education and
2018: Love Rekindled, Success Unfolds
A year later, Eruditus returned, transformed and thriving into a digital education powerhouse. They'd taken BII's advice to heart, leveling up their game in a big way. For Eruditus, their 2018 meeting with Bertelsmann India Investments (BII) was more like a romantic rekindling, a second chance encounter that blossomed into a beautiful long-term partnership.
The Pitch that Sealed the Deal:
In the first five minutes of the pitch, Eruditus co-founder, Ashwin Damera dropped a bombshell. "We multiplied our revenue by over 2 times, reaching $8-9 million from our meeting last year! And guess what? Half of that growth, $4 million, came purely from online avenues! Not only did we retain our prestigious partners like Columbia and MIT, but we also added three more top schools on top of it!" This struck the right cords. BII's Managing Director, Pankaj Makkar, couldn't help but quote, "This is how entrepreneurs create magic and wow investors!" It was this impressive pitch that sealed the deal and ignited a beautiful long-term partnership between Eruditus and BII.
Happily Ever After:
The partnership became official, and both parties have flourished. Eruditus continues its speedy progression, empowering professionals globally with its quality executive education services. BII proudly supports their journey, a testament to the power of believing in potential and rekindling a connection at the right time.
This is a love story of shared belief in the transformative power of education. And like any good love story, it's a journey that continues to unfold, filled with exciting new chapters and a future brimming with possibilities.
Edited by Roshni Manghnani