Gurgaon based college and university search engine Indiacollegesearch has raised undisclosed amount of funding from IAN, confirms co-founder Anirudh Motwani.
The latest funding round was led by IAN members Anupam Mittal (Founder-CEO, Shaadi.com), Vikram Upadhyaya (Team India India Group of Companies) and Varun Khurana (Founder Wirkle Technologies, acquired by Location labs).
Indiacollegesearch was also an incubatee at IAN and this is the first time IAN has invested in its incubated company. Previously, ICS had also raised INR 5.8 million from VAS Capital in seed funding in 2011. With this round of funding, Varun Khurana and Vikram Kant Upadhyaya have also joined the board of IndiaCollegeSearch and Anupam Mittal will be the board observer.
This development was earlier reported by Techcircle.
The raised funds will be primarily used by the company for product and business development.
Currently 1200 colleges are actively using ICS platform and it has about 40 colleges and universities as its clients spread across India. There are around 7 lakh students that are using the platform every month.
ICS has collected half a million in revenue last quarter and have been growing 100% quarter on quarter from last three quarters, in terms of applications generated, page views and revenue, said Anirudh.
It is designed to enable students to browse, filter and explore colleges on various locations based on certain parameters which include locations, course type, fee structure, etc.
How it works
One can choose a course and location preference (optional) for searching colleges. It also has a Shortlist feature which allows students to keep a track of all the colleges that they are considering. It also allows users to do research on colleges in detail by going through their reviews, placement records and infrastructure.
The website also keeps the students updated with all the latest happenings in the colleges, it provides all the latest college news, details of the entrance exams, events and college polls.
The platform is free for students and for colleges it has a freemium model, the college can maintain and update their profile and can receive application from the interested students. It also provides access to reports and analytics about views, applications and comparison with competitors. In case colleges want to get deeper with the information they can go for the paid model. In free listing, colleges are listed in organic search results whereas in the paid model there is featured listing which works like Google ads.
According to the website there are around 7021 college listed on it, 51,94,527 students have already got admissions through it and around 1,258 college accept applications through its platform.
ICS was co-founded by Anirudh Motwani and Parul Bansal in 2010. Anirudh had previously worked with Cvent and Tech Mahindra whereas Parul was a wealth manager with the Aditya Birla Group.
IAN has funded around 50 start-ups across multiple sectors like IT, mobile, Internet, healthcare, e-commerce, gaming and education. Recently, IAN has also expanded its presence in eastern India by setting up base in Kolkata. This year IAN has also invested in GramVaani, Snaplion, Rank Junction Pvt Ltd, etc.