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Bangalore-based edtech startup Avagmah has raised an undisclosed amount of funding from Kris Gopalakrishnan (co-founder & former CEO of Infosys) and Atul Nishar (founder of Hexaware & Aptech Computer Education).
The round also saw participation from existing investors including Singapore’s Lionrock Capital, Ganesh Krishnan (founder and former CEO of TutorVista), and Neeraj Bhargava (founder and CEO of Zodius Capital).
Founded in 2013 by Karthik KS, Avagmah provides state-of-the-art intuitive Avagmah Technology Platform (ATP) on a managed services model, assisting universities with digital marketing technology. It also provides application-based solutions and web technology solutions for delivery of courses by universities. Avagmah offers web and mobile app platforms, helping universities manage the entire lifecycle of their students including marketing, admissions and other administration processes.
Karthik KS, founder and CEO of Avagmah, said, “Avagmah spent the first two years in building a robust collaborative technology and demonstrating its business model at three of the university clients it had acquired. We are satisfied with the success in the initial phase, with one of the university clients reporting 200% growth in student enrollment in 12 months which reached itself to a much larger audience using Avagmah’s technology and services. Avagmah is now focussed on scaling its success to grow 10x in the next 2 years.”
The startup will use the latest investment on enhancing technology to acquire new Indian university clients. It currently works with three universities that include Pondicherry University, Bharathidasan University and Los Angeles-based UCLA Extension. At present, 45% of the students who are enrolled for various university courses through Avagmah’s Technology Platform are from tier-2 & tier-3 cities.
Avagmah’s university clients also use the platform to reach to corporates who invest in employee education, helping them to build their leadership pipeline without the employees having to go for an academic sabbatical. Many corporates including Convergys, Indiamart, Metlife, Quatrro, Fidelity Investments etc. have sponsored their employees to undergo university courses through the Avagmah Technology Platform.
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