Careers360 has raised an undisclosed amount of investment from MeritTrac, A testing and assessment services company in the private sector and a wholly owned subsidiary of Manipal Global Education Services (MAGE).
Started in 2009, Careers360 with its core team of Maheshwer Peri, Naveen Goyal and Mahesh Sarma now has a 150 member team with its corporate office in Delhi and offices in eight cities. The group now also operates Edufy.com; Entrancecorner.com and nopaperforms.com. The Company has recently acquired two startups, EntranceCorner.com to increase its B2C market size and NoPaperForms.come to strengthen its B2B services.
The company will utilise the funds to grow its team, strengthen its technology, infrastructure and brand over the next two years.
Peri, said, "Our revenues have grown three-fold since 2012. This funding will ensure that we keep pace with our growth and seize opportunities as they come. We wanted an investor who understood the education domain well and added value in our journey to be the largest education services provider to students and universities. We are happy to partner with MeritTrac, which conducted 30 million student/career assessments on behalf of Universities, PSU's and marquee private organisations. We see tremendous growth opportunities in the education classified market in India and are well positioned to take advantage of their transition to online.”
Vaitheeswaran, CEO & MD Manipal Global Education ( MaGE)said, " in the digital startup space, There are very few investment opportunities that can claim to be the largest, credible and profitable as well. Careers360 has the distinct achievement of being a B2C market leader with the fastest growth and still profitable. We are happy to be a part of their growth story as they embark on a journey to grow across different verticals and markets. We see this as a sweet spot in our Assessment and Learner services segment in MeritTrac!”
Akasam consulting acted as the sole investment advisor for Careers360.