Adda247 currently has 22 million monthly active users, and a total of two million paid users to date.
Adda247, a homegrown government test preparation platform, announced on Wednesday that it has raised $35 million in a round led by WestBridge Capital. The round also saw the addition of Google as a new investor and participation from the existing investors, including Info Edge and Asha Impact. The company added that it will invest the raised capital in enhancing its tech and product profile, expanding its student counselling team and hiring for some key leadership roles.
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Founded by Anil Nagar and Saurabh Bansal in 2016, Adda247 caters to the learning needs of students from Tier II and Tier III cities in India. It offers content in over 12 vernacular languages for more than 500 government exams.
After this new fundraise, the company plans to delve deeper into the vernacular test preparation category by building new courses and setting up faculty for other state-level exams.
It also claims that it aims to explore a few strategic acquisitions in the coming months to complement its offerings in the government job preparation category. Adda247 currently has 22 million monthly active users, and a total of two million paid users to date.
“Solid business fundamentals, sustainable business and outcome focussed approach has been the DNA of the company. In the short term, the company plans to focus on building a vernacular test preparation business by going deeper into local language learning needs and solving the problem state by state. And in the long term, they plan to work beyond government test preparation and solve unemployment problems at a broader level,” read a statement from the company.