Delhi-based counselling & education services firm, Careers360, has raised an undisclosed amount of funding from MeritTrac, an owned subsidiary of Manipal Global Education Services (MaGE).
Careers360 will utilise the funds to expand its team, strengthen its technology, infrastructure and brand in the next two years, reported ET.
Pathfinder Publishing Pvt. Ltd. which operates Careers360, was founded in 2008 by Maheshwer Peri and Rajesh Jain. It is a student community and career counselling platform, which aims to help students take informed decisions. It offers career advices and information on education, jobs and professional options to the youth aged between 17 and 25.
Speaking on the development, Maheshwar Peri, founder of Careers360 said, “This funding will ensure that we keep pace with our growth and seize opportunities as they come. We wanted an investor who understood the education domain well and added value in our journey to be the largest education services provider to students and universities. This money ensures we keep our war chest on. We want to expand outside India too, organically or inorganically, through acquisitions.”
Careers360, which has raised fresh funds against equity, considers the investment as a strategic one by MeritTrac. According to Peri, founders still control the company.
In June 2014, Careers360 raised INR 6 Cr. in angel round funding. Besides, the company has recently acquired Delhi-based Entrancecorner.com, in an all cash deal to increase its B2C market size. Prior to that, it had acquired Mumbai Angels-backed NoPaperForms, an enrollment management platform for educational institutes, in order to strengthen its B2B services.
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