Mumbai-based financial services training provider EduPristine announced that it has completed a $1.5 million Series A round. The investment was raised from Accel Partners and divided into three tiers of $500k in 2011, 2012 and 2013.
The startup had previously raised an undisclosed amount of angel funding from Mark Mobius and Rajesh Sehgal. The two angel investors didn’t take part in the Series A.
Founded in 2007 EduPristine teaches university graduates the practical skills needed in professional life. Though the main business happens to take place in real classrooms, there is also an online offer for various courses.
Having started with one course in Mumbai that aimed at the banking sector, EduPristine has since spread and offers courses in the following Indian cities: Pune, Delhi, Mumbai, Hyderabad, Bangalore, Kolkata and Chennai and in 2013 it offered its first courses outside of India, namely in Chicago, Singapore, Oman, Muscat, London and Dubai.
Today EduPristine offers a total of 25 courses and usually launches 4 to 5 new courses per year. The company has a network of more than 1,500 professional teachers and offers training in various segments of the financial sector including post graduate courses in financial research, corporate training, business analytics, financial modelling and risk management as well as CFA. Fees range from $250 to $3,750 for the certificate course.
EduPristine currently sees 800 to 1000 enrollments per month and hopes to increase enrollments to 2000 to 2500 per month and claims that it has trained some 15,000 professionals.
In 2012-2013 the company’s turnover was $1,2 million and EduPristine aims to touch the $2.5 million mark for its financial services training in 2014. Whether they are looking to raise more investment, CEO Atul Kumar states: “We are profitable and have enough cash on our books to drive growth”.
- EduPristine launches CMA course; completes $1.5 mn Series A with Accel Partners | StartupCentral
- From Rs 4 lakh to Rs 6.8 crore: How Edupristine made money from financial training courses | The Economic Times