EdTech Startup Oliveboard Raises INR 23 Cr Led By IAN Fund

Oliveboard, one of India’s leading EdTech platforms in the Government Exam preparation space, has raised a pre-Series A funding of INR 23 crores. The round was led by IAN Fund with participation from Education Catalyst Fund (ECF) and Yukti Securities.

This funding will enable Oliveboard to expand its number of national-level courses and exams and to add state-level categories. The Bengaluru-based startup will further focus on investing in technology for interactive data-driven products which will lead to customized learning at a more granular level for individuals. Founders Abhishek Patil and V Satish Kumar’s identification of a huge gap in the accessibility of quality coaching and test preparation for government and quasi-government jobs in Tier 2 and 3 cities, led to the formation of the company in 2015.

The EdTech platform focuses on the aspirational student base, provides access to affordable and high-quality coaching to graduates preparing for jobs in the government sector. Oliveboard’s adaptive platform uses a data-driven approach for intelligent learning and offers Live Classes, Practice Tests, Live Practice Sessions, remedial material, and other forms of interactive content to aspirants. Today, Oliveboard has over 8 million users spanning across 2500+ cities and towns in India.

Speaking on the development, Co-Founder Abhishek Patil said, “There is no one-size-fits-all approach. We follow a personalized approach to learning that offers convenience and flexibility to aspirants preparing for government exams. Our key focus area is to provide data-driven personalized coaching to each learner based on their preparation levels for an exam. Given our success in the Banking & Insurance exam category, we are well-positioned to expand our offerings seamlessly into other newer and lesser served exam categories. We are thankful for the faith and support of IAN Fund, ECF, and Yukti Securities.”