EdTech Portal, iDreamCareer, raises Pre-Series A Funding from Times Group Flagship company
EdTech Portal, iDreamCareer, raised an undisclosed amount in pre-series A funding from Times Group media house BCCL – Bennett, Coleman and Company Ltd.
The funds will be used for brand building and marketing. On this occasion, Ayush Bansal, Co-founder, iDeamCareer commented,
“The peak education season is starting and our product line and application system are well in place. We will be going full throttle with aggressive branding and marketing of our brand to fully tap into this season,”
iDreamCareer, now run by Delhi-based education-technology company Medhavi Professionals Services Pvt. Ltd, was founded in late 2013 by Bansal and Pravesh Dudani. Bansal is an MBA in finance from ICFAI Business School and was an investment banker earlier. IIT-Kharagpur alumnus Dudani earlier co-founded GreenHat Ventures and worked at Educomp Solutions and IndiaCan Education. He has now moved to a non-executive role at iDreamCareer.
The startup provides career planning services, college admission information and counselling to students. It currently operates in Delhi-NCR, Bangalore and Ranchi. Bansal claims the portal gets about four to five lakh unique visitors every month and earns monthly revenue of Rs 10 lakh.
Last year, iDreamCareer had raised angel funding from ah! Ventures and other investors post which the startup switched to a B2C model.
iDreamCareer hopes to raise $5 million in its Series A round by the end of this year to expand its presence in 15 cities in India and the Middle East and to develop assessment and mentoring tools.
Recently, tutorial company Byju’s had raised $75 million (about Rs 500 crore) from Sequoia India and Belgian investment firm Sofina, in what is perhaps the largest deal in this segment till date. During the same time, financial services and analytics education startup Imarticus Learning raised $1 million.
In the last couple of months, a couple of EdTech startups like Oliveboard and Carveniche Technologies, had also raised funding from separate investors.
Akash Boaz
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