Kaplan Backs iProf With Investment & Business
Noida-based iProf Learning Solutions India Pvt Ltd, an e-learning solutions provider, has raised $1.1 million from US-based test prep leader Kaplan Ventures.
Kaplan’s investment in iProf is part of the recent venture capital round the company raised from Norwest Venture Partners (NVP) and IDG Ventures India (IDGVI). Together with Kaplan, these investors have provided iProf with a total of $6 million.
iProf owns and operates a chain of Wi-Fi-enabled e-learning centres across India for IIT, CAT, PMT and other high-stake tests. Here, students use tablet PCs, download latest course materials, get relevant updates, interact with the faculty on board and clarify issues through live video conferences. In partnership with Kaplan, iProf will offer coaching for GRE and GMAT to Indian students.
“These investments are being used to expand iProf activities nationwide. With Kaplan as our investor and partner, our franchisees will have more courses to sell without hiring additional faculty. This will make their operations even more profitable,” said Sanjay Purohit, founder and CEO, iProf.
According to Purohit, the iProf platform, spearheaded by Kaplan’s content, will make it possible for anyone to prepare for these high-stake admissions tests even if he/she cannot attend a regular classroom course.
“From today onwards, a student living in Patiala or Patna will have equal opportunity to prepare for admission to Harvard or Stanford as one living in Mumbai or Manhattan. Kaplan has transformed the test preparation process in the USA over the last 70 years and with this partnership, we aim to replicate the same success story in India.”
Although there are thousands of coaching centres across India, good faculty has always been a big question mark, feels Purohit. “In fact, one can never have all the top teachers in one place. Also, classroom coaching can be extremely expensive since all good institutions are located in the metros. But thanks to our Web-based coaching, we are now entering Tier I and Tier II cities, with good faculty on board,” explained Purohit.
“Initially, we were a little sceptic about this new technology-based coaching as India doesn’t have adequate infrastructure to support the same. Millions don’t have access to computers and the broadband penetration is also poor. But our touchscreen tablets are being accepted by people and it makes things work,” he added. Last year, iProf had developed educational tablets and sold more than 1,000 devices. According to the company, it is a key player in this lucrative Indian market, which is growing by 15 per cent every year.
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Although there are thousands of coaching centres across India, good faculty has always been a big question mark, feels Purohit. “In fact, one can never have all the top teachers in one place. Also, classroom coaching can be extremely expensive since
NewswireToday - /newswire/ - Secunderabad, Andhra Pradesh, India, 05/19/2011 - CommLab India, a custom eLearning solutions company that has been successfully providing eLearning services for the past ten years achieved 150% growth in sales in the
Another large global education company has entered India through a stake buy, nevertheless small. Noida-based iProf Learning Solutions India Pvt Ltd, an e-learning solutions provider, has raised $1.1 million from US-based test prep leader Kaplan
Sify is among the largest Managed Enterprise and Consumer Internet Services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching more than 625
Sify is among the largest Managed Enterprise and Consumer Internet Services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching more than 625
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