Disprz Raises $13 Million In Series B Funding
The investment will be used in building industry-specific product solutions, establishing a sales and marketing division in the US and expanding presence in Southeast Asia and the Middle East markets
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Disprz, an enterprise skilling startup, announced it has raised $13 million in Series B funding led by Dallas Venture Capital and Mars Growth Capital.
Disprz will use this investment to improve products, establish a sales and marketing division in the US, expand its existing presence in Southeast Asia and Middle East markets, and invest in building industry-specific product solutions.
"We are excited to welcome Dallas Venture Capital into the mission of Disprz. DVC's founding team are former founders who have scaled and exited startups. The company's understanding of the SaaS space, coupled with their strong network in the US, make them a perfect partner for Disprz," said Subramanian Viswanathan, CEO, Disprz in a statement.
"We started out as a single product company, now we are a multi-product company, addressing the needs of both frontline and knowledge workers through unique offerings. We are a core business platform that can provide our customers with a competitive advantage," said Kuljit Chadha, co-founder and COO, Disprz.
"We are going deep into sectors such as banking, insurance, fintech, e-commerce and hightech. We aim to strengthen the efficient backbone of the brands that touch our daily lives," added Kuljit.
"The company's continued traction in emerging markets excited us to partner with Disprz. We believe that the DVC advantage program, focused on startups, would greatly benefit Disprz during this exciting growth phase," said Gokul Dixit, venture partner, Dallas Venture Capital in the statement.
Global learning and development spending stood at $360 billion in 2019 which is expected to touch $500 billion in 2025. Disprz has consistently doubled its revenue y-o-y and 2021 has seen them grow by 150 per cent. By 2025, the startup aims to achieve the vision of reaching a top line of $100 million globally, added the statement.