Bootstrapped Edtech venture, Toprankers.com has raised $4M in Series A funding from leading consumer fund, Sixth Sense Ventures.
Within India’s ed-tech sector, the $12B online test-prep space is the fastest growing at a 38% CAGR, set to quadruple to $4B by 2025 with over 5M+ paid users.
Commenting on the funds raised Gaurav Goel, CEO of Toprankers, said, “Over 15 million students appear for Grade 12 every year, with roughly 10% of them sitting for engineering and medical. The remaining 90% are unclear about their career choices, we want to help this segment in making a clear choice about their career and offer them the right preparation courses for a brighter future. We have brands which serve unique career opportunities, and we’ll continue to add more brands serving a larger pool of students across verticals.”
Nikhil Vora, Founder, and CEO, of Sixth Sense Ventures, further added, “online test-prep is a high growth opportunity fuelled by increasing competitiveness and migration from offline to online/hybrid. Millennials and Gen Z are aspiring for careers, beyond engineering and medical, presenting large whitespaces with almost no presence of incumbents. Gaurav, Karan, and Harsh are seasoned ed-tech founders, who understand nuances to make a student’s career journey successful.
Look forward to partnering with Toprankers as it establishes itself as India’s largest platform for new-age careers for the students of tomorrow.”
“CUET will potentially create a huge test-prep vertical. Being one of the first movers with an active product enables Toprankers to capitalize on this opportunity. Excited to partner with Toprankers in their journey to become one of the largest full-stack career companies”, said Nimisha Nagarsekar, Investment Partner, Sixth Sense Ventures, who will be joining the board of the company.
Felix-ETR is the banker for the transaction.
