Delhi headquartered digital marketing edtech startup Digiperform has raised $3.6 Mn (INR 25.5 Cr) in a Series A funding round led by HT Media Ltd. The start plans to utilise the raised funds towards accelerating its brand awareness and presence across India.
Launched by Manu Jolly and Vaibhav Vats in 2014, Digiperform offers curriculum and training on digital marketing and other short-term social media-related skill development courses. It also provides placement support to candidates in small, medium and large enterprises in digital marketing areas. The edtech startup claims to have successfully trained over 18K students, with a successful placement for over 10K candidates.
Digiperform, an edtech learning management system (LMS), charges a fee ranging between $567 and $709 (INR 40K and 50K) for the entire course that can span up to five months. The majority of its users are mostly freshers and working professionals looking to build their digital skills.
The startup offers training in the field of social media, search engine optimisation (SEO), email marketing, and the use of other digital media assets for marketing operations. It has close to 100 trainers, and students can opt for training via online video conferencing, centres, and even get access to recorded sessions.
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The startup plans on collaborating with HT Media in its education-and employment-related verticals such as Shine, Studymate, and BRIDGE school of management.
“We are going to leverage on HT Media’s existing network and brand, and also help them leverage its various digital media asset and business,” Jolly told Inc42.
Further, the startup aims to increase its revenue by 5X and users by 2X.
The importance of digital marketing has increased manifold. In order to keep up with the growing importance of digital marketing, small and medium businesses are doing everything to keep up with the pace to capture a growing and lucrative online marketplace.
According to IBEF, India’s digital marketing and advertising sector are expected to grow at a CAGR of 33.5% to reach the $3.8 Bn (INR 25,500 Cr) mark by 2020.
Competing against companies like SVG Media, Pinstorm, Techshu, Reprise Media, Webchutney, and iCubesWire, Digiperform is looking to widen its reach through the newly raised funds.