Companies

Foradian Tech raises $2-mn funding

Our Bureau Mangalore | Updated on April 30, 2014 Published on April 30, 2014

Foradian Technologies, the provider of enterprise software solutions for the education industry, on Thursday announced that it has raised $2 million funding from William Bissell, Managing Director of Fabindia. The New Delhi-based law firm MPC Legal advised William Bissell on structuring the deal.

A press statement by Foradian said it  will use the funds to add features to its flagship product Fedena and take the product to new markets globally. Fedena is a multi-purpose school and campus management system used by more than 40,000 schools and colleges over a 100 countries.

Speaking about the funding, Unni Koroth, CEO of Foradian Technologies said: ‘‘Adoption of Fedena in educational institutions has grown explosively over the last few years. This funding will allow us to expand our team, improve the product further and scale up for future growth. It will also give a fillip to our vision of building an ecosystem around Fedena. William will be an invaluable addition to the board as we target to become a billion dollar company by the year 2020.”

William Bissell has a personal interest in the education sector. ‘The Fabindia School’ in Rajasthan, of which he is a patron, uses all the features that Fedena offers for its student management system.

Talking about his investment in Foradian, William Bissell said: “Educational institutions are increasingly becoming complex organisations. Fedena is a useful solution that helps integrate all the administrative functions of a school into a single, easy-to-use software. Fedena also has a unique business model that facilitates usage among elite institutes on the one hand and non-profit organisations, NGOs and Government institutions on the other.”

The COO of Foradian Technologies, Abdulla Hisham, said: “Fedena is being used in several developing countries and with this round of funding, we will now look to scale horizontally by expanding our business in markets such as the US, Canada and Europe.”

Fedena’s multipurpose school and campus management software is used by educational institutions for all administration, management and learning-related activities. Fedena can be used to manage students, teachers, employees, courses and all systems and processes related to running an education institution. The statement said Fedena is currently used by 40,000 educational institutions and has around 20 million users worldwide. Currently, Fedena’s open source version attracts more than 200 downloads a day. 

Foradian Technologies was founded in 2009 by Abdulla Hisham, Abdul Salam, Arun Raveendran, Arvind GS, Unni Koroth and Vishwajith in Kasaragod district. It is headquartered in Bangalore now.

Published on April 30, 2014
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