In Startup50 2017: Matrix Partners-backed online test preparation platform, Testbook, finds its spot amongst the winners list for growing its user-base and monthly revenues by nearly 4X, year-on-year. The company has addressed an important gap in the online learning space through its high quality of educational content, especially, for government job preparation and M.Tech entrance tests, a space neglected by other e-learning players.
Founders: Ashutosh Kumar, Praveen Agrawal
Ensuring complete preparedness: Founded by a team of IIT graduates in 2013, Testbook uses technology to make preparation for government jobs and entrance tests more accessible and relevant while bearing in mind cost-effectiveness. At present, the company provides preparation for nearly 30 tests including SBI PO, SSC CGL, IBPS PO, IBPS Clerk, LIC AAO, and Railways, among other aptitude preparation. Testbook’s content is available on its website, mobile application and at its Online Centres and Smart Labs that the company has established in select cities. To broaden the distribution of its content, it also partners with existing coaching centres across cities in India.
Moving India online: Testbook addresses a key gap in preparation for government jobs and entrance tests, that of familiarising Tier-II and Tier-III India with taking tests online. With the recent shift in this space from offline to online, those that struggle most are aspirants from smaller cities and towns and Testbook has eased their worries on access to equipment and infrastructure.
Innovating to stay ahead: Testbook aims to break away from its competition by finding innovative solutions to existing problems in online learning. While it deploys a distribution mix that includes online and offline access to content, its payment innovation is to introduce recharge vouchers that addresses the problem of cash on delivery. For FY17, Testbook has grown its user-base and monthly revenues by nearly 4X, year-on-year, and expects to sustain this growth rate in the next fiscal. Currently, on a daily basis, three lakh students access the company’s website and nearly 35,000 tests are attempted.
Its methods have enabled it to find investors in S. Chand and Company and Matrix Partners with the latter investing an undisclosed sum in the company in April 2017. Testbook plans on using this towards product expansion, expanding its team from the current 140 to 300 employees and entering new geographies with its test centres.
- Provides preparation for nearly 30 tests including SBI PO, SSC CGL, IBPS PO, IBPS Clerk, LIC AAO, and Railways, among other aptitude preparation
- Content is available on its website, mobile application and at Test Centres and Smart Labs in select cities, also partners with existing coaching centres
- Investors include S. Chand and Company and Matrix Partners