Edtech Venture Toprankers Bags $4 M In Series A Funding
Commenting on the funds raised Gaurav Goel, CEO of Toprankers, said, “We have brands which serve unique career opportunities, and we'll continue to add more brands serving a larger pool of students across verticals"
Bootstrapped Edtech venture, Toprankers.com – India’s largest platform for careers beyond engineering and medical, has raised $4M in Series A funding from leading consumer fund, Sixth Sense Ventures.
Within India’s ed-tech sector, the $12B online test-prep space is the fastest growing at a 38% CAGR, set to quadruple to $4B by 2025 with over 5M+ paid users. While this space has historically been driven by engineering (JEE), and medical (NEET), engineering has ironically witnessed a 10-year low in student enrolment seats, signaling a clear shift in careers. The students of modern India are looking for careers beyond engineering and medicine.
Commenting on the funds raised Gaurav Goel, CEO of Toprankers, said, “Over 15 million students appear for Grade 12 every year, with roughly 10% of them sitting for engineering and medical. The remaining 90% are unclear about their career choices, we want to help this segment in making a clear choice about their career and offer them the right preparation courses for a brighter future. We have brands which serve unique career opportunities, and we'll continue to add more brands serving a larger pool of students across verticals.”
Nikhil Vora, Founder, and CEO, of Sixth Sense Ventures, further added, “online test-prep is a high growth opportunity fuelled by increasing competitiveness and migration from offline to online/hybrid. Millennials and Gen Z are aspiring for careers, beyond engineering and medical, presenting large whitespaces with almost no presence of incumbents. Gaurav, Karan, and Harsh are seasoned ed-tech founders, who understand nuances to make a student's career journey successful. Look forward to partnering with Toprankers as it establishes itself as India’s largest platform for new-age careers for the students of tomorrow.”