Chennai-based AI-based skills and career acceleration platform Disprz has raised INR 12 Cr ($1.6 Mn) in a new funding round led by Vikas Phadnis-founded investment and advisory firm Auctus Capital.
Commenting on the fundraise, Phadnis said, “Learning & Development (L&D) is seeing strong tailwinds, pushing the whole space towards digitisation extremely rapidly. The pandemic has only helped accelerate what was inevitable – the movement from offline to a more online way of L&D efforts – especially for large corporates and MNCs with multi-locational workforce.”
The company believes that organisations need to learn new competencies and embrace a culture of continuous upskilling and reskilling. There is a huge gap between jobs and business performance that is further exacerbated by Covid-19 and requires newer skills in today’s workplaces. The company will be using the funding to accelerate its growth and skilling prospects.
“Investing in an organisation-wide reskilling effort is the bridge we need to prepare the workforce for the ever-changing normal and help them accelerate their career in the process,” cofounder Subramanian Viswanathan said.
Prior to this, Disprz had raised INR 16.5 Cr ($2.5 Mn) in a Series A funding round led by IL&FS Private Equity and Kae Capital in 2018. The startup planned to use that funding to enhance its data science capabilities and also to expand its overseas markets operations.
Disprz was founded in 2015 by Subramanian Viswanathan, an IIT-Madras Mechanical Engineering graduate, and Kuljit Chadha, an engineer from Mumbai University with an MBA from Hyderabad-based Indian School of Business.
It delivers educational and training content to the clientele through an online learning management system (LMS) that combines onboarding, on-demand knowledge delivery, employee engagement and real-time communication. It’s clientele include names such as Amazon, Petronas, Angel Broking, Wellness Forever, GE Aviation, Bajaj Life & General Insurance, Uber, Swiggy, Tata Motors, Standard Chartered Bank, and others across industries such as BFSI, Logistics, E-commerce, Retail, Manufacturing.
Disprz’s LaaS model is a subscription-based learning strategy, learning design and learning adoption service. It integrates cutting-edge thinking spanning cross-functional disciplines ranging from HR analytics, talent management, organisational development and digital platform adoption.
Disprz claims that its LaaS model combines the human component of the traditional learning experience with the technological power of a cloud-based delivery platform, powered by advanced AI algorithms.