SUMMARY
Exly will use the fresh capital for product development, acquisition and help customers maximise their earnings potential
Exly is a business management solution provider for knowledge businesses, professionals, coaches, trainers & course creators to start, market and manage their programs.
It is pertinent to note that Exly had earlier raised $1.8 Mn from a seed funding round
Exly, a business management solution provider for professionals and creators, has secured $6.2 Mn (around INR 51 Cr) in a funding round led by Chiratae Ventures, with participation from Mayfield India and Venture Highway.
Exly will use the fresh capital for product development, acquisition and help customers maximise their earnings potential.
Founded in 2018 by Suyash Sinha, Sidharth Rawat and Akhil Tripathi along with founding team member Swati Singh, Exly is a business platform built for professionals, coaches, trainers and course creators to start, market and manage their programmes (courses, online sessions, consultations and workshops).
Sinha, said ” Whether you are kickstarting or expanding your knowledge business, you are currently required to stitch together 10+ tools and products to be able to manage your business instead of focusing on what’s most important – sharing your knowledge and adding value to your customers! Our goal is to become the one-stop solution for all their needs and empower our customers to 10X their earnings on autopilot. ”
Mandeep Julka, vice president at Chiratae Ventures said, “Exly is at the forefront of revolutionising how knowledge entrepreneurs operate and thrive in today’s digital landscape. We recognize the evolving needs of knowledge businesses and believe in empowering entrepreneurs with the tools they need for success, supporting them every step of the way in their growth journey ”
The company claimed it has been able to grow the revenues of its users by 330% within a year. At present, it focuses on India and also plans to expand to the US market.
It is pertinent to note that Exly (erstwhile MyScoot) had earlier raised $1.8 Mn in a seed funding round. The startup was also a part of the Y-combinator Winter 2019 batch and had raised $1.5 Lakh from the accelerator program.
It competes against the likes of Yellowdig, KickUp, AEFIS, Acrobatiq and Quipper.
According to Inc42’s Indian Tech Startup Funding Report 2023, the Indian edtech startups could only secure a mere $283 Mn in 2023 compared to $2.4 Bn in 2022, registering a massive 88% year-on-year (YoY) decline.
In another Inc42’s report, India’s e-learning sector is expected to reach $29 Bn market by 2030. Moreover, the global knowledge-sharing and e-learning market was valued to be close to $400 Bn in 2023 and is expected to grow at 14% CAGR by 2032.
Update: The founding year of Exly has been changed to 2021 from 2018 earlier as the company revised its press release after the publishing of this story.
