NoPaperForms secures Series B funding from Info Edge
NoPaperForms , the SaaS based Enrolment Automation platform has raised Rs. 28 Cr in Series B funding from Info Edge, valuing the company at 100 Cr. According to stock exchange filing, post this round Info Edge will hold 48.1% stake in the company.
Founded in Feb 2017 by Naveen Goyal the company enables Institutions to automate their admission process through digitization. The admissions management processes in Institutions were very scattered, leading to operational inefficiency and inflated cost. This was too complex a problem to be solved through standalone Lead Management Systems, CRMs and ERPs. What the industry required was a standardized one stop solution built around deep customer insights which could be plugged and played.
Its Series A funding (~ 6cr) raised in November 2017 enabled the company to prove the need and urgency for an end to end SaaS based automation platform, Naveen said. With successful deployment in over 170 institutions and a million applications processed within one year, the company now strives to capture the larger pie of the marker size estimated around 400Mn applications, he added.
Speaking on the current investment Naveen said this funding will enable us to multiply our business development & deployment teams and strengthen our tech infra & product line. According to Naveen, educational institutions in the country are at a tipping point with respect to digital transformation. They are more open and understanding the need of change to and NoPaperForms is well poised to capture this opportunity.
Offering programmes like Digital Marketing and then asking students to apply in a paper application is an anomaly that must go says Naveen. Our vision is to be at the forefront of enabling this digital transformation, which will generate huge benefits for all stakeholders in the country, added Naveen.
In the last one year we have been able to create a fundamental shift in the way institutions attract, engage and enroll students. Within a year and a half of launch we are already servicing 4 out of the 5 largest private universities in the country. This validates the efficacy of our product said Suraj Sapra, VP – Growth. Almost all marque institutions including SRM, Amrita, Shiv Nadar, O.P Jindal, Bennett, FMS Delhi etc are reposing their faith in the product and are using the tones of analytics that our platform reflects to predict student’s behavior and plan marketing budgets. Customer success is the core of NPF and we will continue to invest in educating and training the industry to make the best use of all resources thus assist them to yield better than ever results, he added.
Info Edge (India) Ltd, runs a slew of consumer Internet properties such as hiring portal Naukri.com and real estate website 99acres, and is an investor in Zomato, PolicyBazaar .