Edmingle Raises $300,000 From SucSEED Indovation Fund, Mumbai Angels And Others
The platform has helped several training businesses completely digitize their classroom training, growing its topline by 400 per cent over the last year
Online teaching academy entrepreneurship enabler Edmingle on Monday announced to have secured $300,000 in fundraise from Hyderabad-headquartered SucSEED Indovation Fund, Mumbai Angels and other angels including Gaurav Gulati-ScaleX partners a firm focused on early-stage investments and Jaideep Mehta-VCCircle as part of its Seed round.
Edmingle's proprietary software platform is designed to create, teach and grow, with a boundless ability to enable educators, entrepreneurs, and training businesses to launch branded online teaching academy websites and mobile apps to instantly launch and grow their knowledge businesses.
"Trainers have to heavily rely on marketplaces to sell their courses, often ending up sharing a large chunk of their earnings as commissions. With Edmingle, these trainers are now confidently running their courses on a platform they can call their own and transforming their passion into a sustainable knowledge business. The Seed funding we raised from SucSEED Indovation Fund and such established Angel Investors will help us take our mission to the larger market and also further strengthen our technology and operations," said Gaurav Doshi, founder, and chief executive officer, Edmingle.
Edmingle provides a subscription-based software platform to educators where they can build their courses, market them on their website/app and engage their students.
Over 4000 trainers are delivering their courses to over 3,00,000 learners across 30 countries. These trainers have turned their passion into a successful business selling courses worth INR 75 crore and conducting live training sessions for over 90 lakh minutes. During the pandemic, Edmingle has helped several training businesses completely digitize their classroom training, growing its topline by 400 per cent over the last year.
"Edmingle is a next-generation all-in-one platform which substantially reduces times to create market and sell online courses. I have interacted with enthusiastic professionals who have stepped into education to substantiate their COVID-effected income from home using this platform. We believe their comprehensive and easy to use solution helps prepare and deliver online and offline courses in a faster and effective manner. What encouraged us to invest in Edmingle is its well-laid outgrowth and sustainable customer focus business model, and the ability of their platform to help entrepreneurs solve the online realm problems," stated J A Chowdary, co-founder and partner, SucSEED Indovation Fund.
The TAM for learning management systems in the world is $ 13 billion, projected to grow to $ 25 billion by 2025.
"The pandemic has resulted in a systematic shift in how educational content is consumed. Educators and entrepreneurs in this segment have no choice but to adapt to this new reality. Edmingle seamlessly empowers such professionals to take their educational business online and increase their earning potential; professionals in the educational segment can use the Edmingle white-label platform to build their own community and grow their own brand," added Gaurav Gulati, founder, ScaleX Partners.
The global online education market is slated to reach $325 billion in the next few years. Increased smartphone and internet penetration, content digitization, demand for virtual learning environments, and professional content providers for sophisticated course materials for upskilling/employability education and vocational training will be the key driving force behind online learning.