Edmingle, a SaaS platform for small and medium-sized training and coaching businesses, has raised $1 million in its Pre-Series A round led by Indian Angel Network (IAN).
Investors Jaideep Mehta, Rahul Mahipal, and Ms. Vasudevan led the funding round at IAN. Besides IAN, Keiretsu Forum joined the round along with previous investors SucSEED Indovation Fund and Mumbai Angels Network.
With this investment, Edmingle plans to expand globally, scale its marketing and sales channels, as well as automate its product to help training businesses grow sales and retain learners globally.
Founded in 2016 by Gaurav Doshi, Prashant Agarwal, and Harshit Sharaff, Edmingle’s mission is to empower training and education businesses to catalyse the spread of quality education and training to all corners of the world. The fully integrated, plug & play SaaS platform enables training businesses to create their online courses and services, automate their enrolment process & payment collection, deliver their courses in a highly engaging self-paced or live mode, manage learner communications, and provides analytical reporting for business owners and creators to get insights into the performance of their online academy.
Post-pandemic era and learner’s behavioral changes have made it evident to traditional small and medium-sized training organizations that a strong online presence in addition to their offline approach is inevitable in order to sustain and scale. Edmingle claims over 700 small and medium-sized training businesses and even some EdTech companies across various categories have significantly reduced their technology investment and go-to-market time by at least 10 times using its platform. According to the company, these businesses have gone global and are currently delivering training to 1 million learners across 100+ countries.
Gaurav Doshi, Founder & CEO, Edmingle, said,
Given the highly personalized nature of professional and vocational training categories, we strongly believe that a huge number of independent organizations and individual experts have the opportunity to create a profitable and niche market for themselves. While these organizations and creators are masters of their content, the biggest barrier to their growth is a scalable and easily maintainable technology platform, and that’s exactly what Edmingle solves for them.
With Edmingle taking care of their technology needs, training businesses are able to focus on learner acquisition and content creation, which are the biggest drivers of their growth. Edmingle’s online training academy can be fully white-labeled and customized to their needs, thus giving them full control over their brand, data, and content security.
Jaideep Mehta, IAN Lead Investor, said,
In India and even globally, the demand-supply gap in terms of quality teachers and content is immense. Edmingle has a noble mission to help traditional education and training institutions digitalize and embrace the new way of teaching and knowledge distribution. The platform’s business model is capital efficient and has sound unit economics, which gives us the confidence to partner with them through their journey.
Vikrant Varshney, Co-founder & Managing Partner, SucSEED Indovation Fund, added,
As per RBSA Advisors report, the Indian EdTech industry was valued at US$ 750 million in 2020 and is expected to reach US$ 4 billion by 2025 at a CAGR of 39.77%. This growth is hugely driven by rising demand for non-academic courses from Tier II & III cities and the need for personalization in the EdTech space. Edmingle offers its SaaS platform to individual creators, SMBs, and enterprise clients, enabling them to offer these services at scale. This further helps them widen the scope of the target market and to capture a larger market share.
Edmingle said it grew significantly in the post-pandemic times. It claims to witness a 400% boost in student engagement as the professional and coaching market segment continues to soar online or, at the least, follow a hybrid approach. The Bengaluru-based company also claims to have grown over 5X in revenues, customer base, and valuation since its seed round in June 2021.