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Adda247, a government test prep platform, has raised $35 million in a round led by WestBridge Capital along with the participation of Google, Info Edge and Asha Impact.
The company will invest this fresh capital in enhancing its tech and product profile, expanding its student counseling team, and hiring for some key leadership roles. Founded by Anil Nagar and Saurabh Bansal in 2016, Adda247 caters to the learning needs of millions of students from Tier-II and Tier-III cities in India.
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86% of teachers sees edtech companies expanding job opportunities for them, says surveyIt offers educational content in 12+ regional languages for more than 500 government exams. After this new fundraise, the company plans to go deeper into the regional test preparation category by building new courses and setting up faculty for other state-level exams. It also aims to explore a few strategic acquisitions in the coming months to complement its offerings in the government job preparation category. Adda247 said it has 22 million monthly active users, and 2 million paid users till date.
Commenting on the announcement, Sandeep Singhal of WestBridge Capital, said, “Anil and Saurabh have worked tirelessly to build a category leader in the govt exam preparation space which is a very large market. It is one of the rare profitable ed-tech companies in India and is also growing at a rapid pace”
Focus on smaller towns
Commenting on the fundraise, Anil Nagar, Founder & CEO, Adda247, said, “The company’s genesis lies in solving education problems in towns and villages. We come from a rural background and have seen people suffering due to a lack of guidance and quality education. All our offerings focus on ‘Building for Bharat’ as 85 per cent of our user base comes from Tier 2,3 & 4 cities. We want to help create a level-playing field by providing all kinds of learning solutions to students from all backgrounds.”
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