In Startup50 2016: For being a pioneering edtech startup that connect students with working professionals through a mobile app
Founders: Karthik Ks (In Pic), Sankar Bora, Prasad G Palla
Given the rapid pace at which technology and innovation is fuelling growth at companies, there’s an increasing need for employees and students to enhance their skills from time to time, to cope with the role and stay relevant. It’s this very segment that Avagmah is targeting. The company enables working professionals and students to acquire quality education through a mobile app, while simultaneously enabling universities and distance education providers to make higher education accessible to a broader audience.
The Growth Story
Its intuitive Avagmah Technology Platform (ATP) assists universities with app and web technology solutions for delivery of courses, and also helps them manage marketing, student counselling, virtual classroom, student engagement and retention.
With 70 employees currently on the rolls, Avagmah has 4, 000 students on board and has partnered with reputed universities such as Pondicherry University and Narsee Monjee Institute of Management Studies (NMIMS). Since founding, the company has seen a 3X growth in lead-to-sales conversion ratio and a 71 per cent reduction in customer-acquisition-cost.
Thus far, the company has raised US $5 million in funding from a string of notable investors such as Kris Gopalakrishnan (Co-founder & former CEO & MD of Infosys), Atul Nishar (founder of Hexaware and Aptech Computer Education), Lionrock Capital, Growthstory, and Neeraj Bhargava, founder and CEO of Mumbai-based investment firm Zodius Capital.
Did You Know?
The success of Avagmah’s platform is contrary to the belief that distance executive education is pursued by students who are not doing well in academics and, the courses are conducted during weekends and late nights only.
(Students pursuing higher education with a pre-enrolment salary of INR 15 lakhs+)
(Students studying during transit hours)
(Students studying during weekdays)