Data-driven Education Platform ForeignAdmits Raises INR 3.45 Cr Seed Round Led By Unicorn India Ventures
Funds raised to be primarily used for product development and for team expansion
Bengaluru-based ForeignAdmits offers personalized study abroad guidance to aspirants on Monday announced to have raised INR 3.5 crore in a seed round led by Unicorn India Ventures. The round also saw participation from angels like RiDiK Technology from Singapore, Manoranjan Mohapatra, Kumar Siddhartha (Greytrix), Chandra Shekhar Sharma (Reliable Institute, Kota, A division of Allen), Sudhanshu Mishra, Sagar Gandhi, Mayank Sharma (Prodigy Finance).
Started in 2020, ForeignAdmits is a data-driven platform providing authentic Study Abroad guidance to aspirants using a data-backed counseling process and peer-to-peer mentorship by international graduates and alumni networks. Some of the well-known alumni networks that ForeignAdmits work with are Columbia, Duke, CMU, Monash, University of Toronto, and ASU. The Company focuses on the overall aspiration of the GenNext, taking them from mere aspirants to worthy candidates.
“We want to transform and disrupt the $90 billion global higher education industry by creating the largest online student community to make study abroad accessible and affordable to all high potential students. Studying abroad should not be just an elitist's dream and should be made accessible to all aspiring individuals who aim to achieve their dream of going to college. Our mission is to enable 100 million students in India with quality mentorship to help choose a better career by providing a cutting edge and comprehensive guidance platform for students aiming to pursue higher education in the best universities of the world,” shared Nikhil Jain, co-founder, and chief executive officer, ForeignAdmits.
ForeignAdmits is currently present in six key cities in India - Mumbai, Pune, Bengaluru, Hyderabad, Kolkata.
“Higher education in India is more focused now and producing disciplinary experts and has grown in a remarkable way. The Gross Enrolment Ratio in higher education has been significantly improving every year. With this thought, we have led the round in ForeignAdmits as the education platform is a process focused and we have first-hand seen the impact it has made since its inception,” added Anil Joshi, managing partner, Unicorn India Ventures.
ForeignAdmits aims to make global education a reality for every deserving student. The company which started just before the pandemic hit, has continued to grow strongly and organically.
ForeignAdmits has grown 10 times in the last year. Currently, it has close to one lakh MAU and 1.5 lakh user traffic per month, registering an organic growth of 650 per cent in user base and traffic in 2021. In the next 12 months, ForeignAdmits aims to guide over 25,000 students in their foreign education cycle through a tech-enabled counseling process. It also plans to empower over 500 counselors to help students with proper guidance through our admission counseling products.