ValueBridge Capital, a subsidiary of Merisis Advisors, is pleased to announce a Rs. 23 Cr. equity fund raise for its client Oliveboard led by IAN Fund along with Education Catalyst Fund and Yukti Securities. ValueBridge Capital was the exclusive financial advisor to Oliveboard on the transaction. Oliveboard plans to use the new funds to expand its offerings to include a wider range of courses and preparation material for job-related exams.
Founded by Abhishek Patil and Satish Kumar in 2012, Oliveboard is an Edtech platform that offers online practice and preparations course materials for government and competitive banking exams. Oliveboard’s adaptive platform provides complete practice for an exam including; live classes, practice tests, live practice sessions, remedial material, and other forms of interactive content to its users. The platform currently supports over 50 government exams and aims to add more than 100 national and state-level exam courses.
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ValueBridge Capital, a subsidiary of Merisis Advisors, is pleased to announce a Rs. 23 Cr. equity fund raise for its client Oliveboard led by IAN Fund along with Education Catalyst Fund and Yukti Securities. ValueBridge Capital was the exclusive financial advisor to Oliveboard on the transaction. Oliveboard plans to use the new funds to expand its offerings to include a wider range of courses and preparation material for job-related exams.
Founded by Abhishek Patil and Satish Kumar in 2012, Oliveboard is an Edtech platform that offers online practice and preparations course materials for government and competitive banking exams. Oliveboard’s adaptive platform provides complete practice for an exam including; live classes, practice tests, live practice sessions, remedial material, and other forms of interactive content to its users. The platform currently supports over 50 government exams and aims to add more than 100 national and state-level exam courses.
Commenting on the new round of funding, IAN Fund’s Sudipta Gautam said, “The market size of the government job entrance exam preparation industry in India is bound to grow as the demand for test preparation has been stimulated by the increasing internet penetration in tier-2 and tier-3 cities in the country. We are delighted to see how Edtech startups like Oliveboard are combining their educational expertise with technology and helping thousands of aspirants in their preparation for government jobs.”
Commenting on the investment, Abhishek Patil of Oliveboard said, “There is no one-size-fits-all approach. We follow a personalised approach to learning that offers convenience and flexibility to aspirants preparing for government exams. 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.”
On the transaction, Vijay Iyer, Managing Director of ValueBridge Capital said: Oliveboard is at the forefront of the shift to online education for job related exams. This is the largest market in India after the K12 space, serving over 90million users annually. We believe that the outcomes focus of the company is a clear competitive advantage which will enable it to win in the market and achieve a dominant status in the Indian edtech landscape. This fundraise is a first step in achieving Oliveboard’s vision of helping learners get started on their dream careers and we are very glad that ValueBridge was able to play a small role in this process.
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We are delighted to see how Edtech startups like Oliveboard are combining their educational expertise with technology and helping thousands of aspirants in their preparation for government jobs.”
Commenting on the investment, Abhishek Patil of Oliveboard said, “There is no one-size-fits-all approach. We follow a personalised approach to learning that offers convenience and flexibility to aspirants preparing for government exams. 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.”
On the transaction, Vijay Iyer, Managing Director of ValueBridge Capital said: Oliveboard is at the forefront of the shift to online education for job related exams. This is the largest market in India after the K12 space, serving over 90million users annually. We believe that the outcomes focus of the company is a clear competitive advantage which will enable it to win in the market and achieve a dominant status in the Indian edtech landscape. This fundraise is a first step in achieving Oliveboard’s vision of helping learners get started on their dream careers and we are very glad that ValueBridge was able to play a small role in this process.
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Source: Business World
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