Adda247 Raises Series B Funding The funds will be utilised for optimising its technology, products and senior-level hiring
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Adda247, an edtech platform providing online courses in nine languages, has raised Series B funding of around $20 million led by WestBridge Capital. The funding round also saw participation from existing investors, including Info Edge, Asha Impact and JM Financials.
Founded by Anil Nagar and Saurabh Bansal in 2010, Adda247 offers products focused on government examinations. With 15 million monthly active users, the platform is one of the largest and fastest-growing education technology platforms in India, said a statement.
The latest infusion of the funds will be utilised to optimise technology, product and conduct senior-level hiring. The edtech company is also foreseeing the acquisition of a few companies with complementary offerings.
"India at present has more than 50 crore learners, which makes the country's educational market enormous and open for diverse requirements. The current funding is an endorsement to Adda's mission to bring quality education to millions of students in interior parts of India. We will be using the latest round of funds to improve learning outcomes on our platform and give our users a superior learning experience," said Anil Nagar, founder and CEO of Adda247.
"Adda247's founders have built a promising and differentiated platform for government job seekers in India, which has the potential to create large scale impact with a sustainable business model. We look forward to supporting them in their endeavours and the next phase of their growth," said Sandeep Singhal, managing director and co-founder of WestBridge Capital.
Adda247 is currently one of the largest and most popular online education platforms offering courses for various competitive exams. It is on a mission to take quality education to the masses and create a level playing field in terms of access to the highest quality content, vernacular content, personalised learning and affordable pricing. It targets learners outside the metros and provides courses in vernacular languages like Tamil, Telugu, Malayalam, Bengali, Odia, among others, added the statement.
