iDreamCareer.com raises funds through ah! Ventures1 min read . Updated: 01 Jul 2015, 08:13 AM IST
Firm is looking to use the funds for upgrading the product line, college application system, content and adding of information alert tools
Mumbai: Delhi-based education technology company Medhavi Professionals Services Pvt. Ltd, which owns and operates the online portal iDreamCareer.com, said it had raised an undisclosed amount of individual (angel) funding through ah! Ventures, with participation of Indian Designs Group and others.
The company raised funds in 2013 from G.K. Sinha, a former director at beverage maker PepsiCo.
The funds were raised on CLUBah.com, a funds raising platform by ah! Ventures that is in the process of closing two more investments in the coming weeks.
iDreamCareer(iDC), founded in 2013 by Pravesh Dudani and Ayush Bansal, is looking to use the funds for upgrading the product line, college application system, content and adding of information alert tools. In addition to this, the funds will be used for sales and marketing initiatives and expansion in India and the Middle East.
“Our focus has been on providing quality career planning service to students and parents that empowers them for taking informed career decisions. Over the last year and a half, more than 55,000 students have benefitted through iDreamcareer. Over 40% of the students have come through referrals, " Bansal said over the phone.
In 2015, start-ups in the ed-tech space have been gathering momentum and receiving investor attention. MeetUniv.com raised ₹ 6 crore from Peesh Ventures. After acquiring EasyPrep.com, Toppr.com raised ₹ 65 crore. Embibe.com acquired 100marks.
India’s online education market size is expected to touch $40 billion by 2017 according to data by IBEF.
“iDreamCareer has demonstrated their ability to disrupt the market using their unique customized career planning program rather than competitors’ plain vanilla assessment reports created using online aptitude tests. iDC’s mix of online and offline models of career planning through 1-on-1 sessions using their retail offices and telephonic interviews, gives a more holistic approach," says Harshad Lahoti, co-founder with ah! ventures, over the phone.
The company provides students with career planning, college admission information, counselling and other related solutions.