Software-as-a-service (SaaS) startup, which distributes learning and development solutions using Disprz, Artificial Intelligence (AI), has raised $ 13 million in a series B round led by Dallas Venture Capital and Mars Growth Capital.
Existing investors Go1 (an Australian unicorn in the space), Tara India Fund IV managed by KOIS, Octus Capital (the family office of Vikas Fadnis, co-founder of Eurokids), and Kae Capital (a pioneer) also participated in the funding round. . Seed Fund). Unitus Capital acted as the company’s financial advisor for the transaction.
According to the official statement, the Mumbai-based startup plans to use the capital to expand its manufacturing and engineering teams, establish sales and marketing divisions in the US, and expand its existing presence and investments in Southeast Asia and the Middle East markets. Creating industry-specific product solutions.
Co-founded by entrepreneurs and alumni from the series IIT-Madras, ISB, and McKinsey, Subramaniam Viswanathan and Kuljit Chadha in 2015, Disprz focuses on helping enterprises achieve more professional impact by enabling their employees to integrate knowledge into their day-to-day work. Is done. The company aims to make workers more knowledgeable, productive and intelligent by using technologies like social, mobile, cloud and analytics.
Speaking about the fundraising, Disprz co-founder and CEO said, “We are delighted to welcome Dallas Venture Capital to Disprz’s mission. Space, with their strong network in the US, makes them a perfect partner for Disprz as we strive to establish ourselves in developed markets, particularly in the US. “
Startup’s multilingual app helps keep onboard and employees engaged, increase productivity, and keep learning online. It all works in the spectrum – when an employee joins a company and when it grows and develops.
With over 100,000 courses, the startup serves over 200 Indian and global customer bases including Wellness Forever, More Retail, Times Internet, Motilal Oswal Financial Services, Godrej Storage Solutions, Hindustan Coca Cola Beverages, KBZ MS General Insurance, Oman’s Including. Groups and others.
Giving more details about the latest funding, co-founder and COO, Kuljit Chadha said, “We started as a single manufacturing company, but now a multi-manufacturing company, meeting the skill needs of frontline and knowledge workers through unique offers, solving key business problems. We are now not only a great platform for learning but also a major business platform for our customers to gain a competitive advantage. “
Disprz also aims to use “Learning As A Service” to change how organizations view skills. It is a subscription-based learning strategy that extends cross-functional topics such as talent management, digital platform adoption, HR analytics and organizational development. .
Gokul Dixit, venture partner at Dallas Venture Capital, said: “The genealogy and foresight of the founders, the company’s continued appeal in emerging markets and the huge unmatched capability of skills and technology globally have made us happy to partner with Disprz. As a catalyst for the technology market, we believe that DVC focuses on the needs of start-up companies in a number of areas, including Advantage Program, Production and Technology Strategy, Executive Guidance, Talent Acquisition, and Enhanced Focus on Business. . “
In the near future, Disprz plans to achieve the goal of reaching $ 100 million worldwide.
In October last year, the company raised 1.6 million (INR 12 crore) in a new round of funding led by development fundraiser-established investment and consulting firm Octus.
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