Disprz, a enterprise skilling startup, on Thursday announced it has raised $13 million in Series B round led by Dallas Venture Capital and Mars Growth Capital. The round also saw participation from existing investors Go1 (an Australian unicorn in this space), Tara India Fund IV being managed by KOIS, Auctus Capital (Family office of Vikas Phadnis, Co-Founder of Eurokids) and Kae Capital (a leading seed fund). Unitus Capital acted as the financial advisor to the company for this transaction.
According to an official statement, Disprz will use this capital, further to scale up product and engineering teams, establish a sales and marketing division in the US, expand its existing presence in South East Asia and Middle East markets, and invest in building industry-specific product solutions.
Founded in 2015 by Subramanian Viswanathan and Kuljit Chadha, Disprz is an AI-powered learning and skilling suite that empowers companies to right-skill their workforce to win in a digital-first world.
“We are excited to welcome Dallas Venture Capital into the mission of Disprz. DVC’s founding team are former founders who have scaled and exited start-ups and their understanding of the SaaS space, coupled with their strong network in the US, make them a perfect partner for Disprz as we look to establish ourselves in developed markets, particularly the US,” added Disprz CEO Subramanian Viswanathan, a serial entrepreneur and alum of IIT-Madras, ISB and McKinsey.
“We started out as a single product company, but are now a multi-product company, addressing the skill needs of both frontline and knowledge workers through unique offerings, while solving key business problems. We are no longer just a good-to-have learning platform but a core business platform that can provide our customers with a competitive advantage”, stated Kuljit Chadha, Co-Founder and COO of Disprz.
“We are going deep into sectors such as banking, insurance, fin-tech, eCommerce and high-tech, where we have now developed deep expertise on skill recognition, skill measurement and skill impact. We aim to strengthen the efficient backbone of the brands that touch our daily lives. We already do this in India and emerging APACs and we expect to replicate this in major global economies,” shared Kuljit.
Commenting on the investment, Gokul Dixit, Venture Partner at Dallas Venture Capital added,
“The founders’ pedigree and vision, the company’s continued traction in emerging markets and the huge untapped potential for skills-tech globally, excited us to partner with Disprz. The pandemic has also acted as a catalyst to the rapidly growing skills-tech market. We believe that the DVC Advantage program, focused on start-up companies’ needs in multiple areas such as product and technology strategy, executive mentorship, talent acquisition and with an enhanced focus on business development, would greatly benefit Disprz during this exciting growth phase.”