Online Teaching Academy Enabler Edmingle raises $300,000 from SucSEED Indovation Fund, Mumbai Angels & Others
Hyderabad : Edmingle, the online teaching academy entrepreneurship enabler has secured $300,000 in Fundraise from Hyderabad headquartered SucSEED Indovation Fund, Mumbai Angels and other angels including Gaurav Gulati, – Founder of ScaleX Partners a firm focused on early-stage investments and Jaideep Mehta- CEO VCCircle as part of its Seed round.
Edmingle’s proprietary software platform is designed to “CREATE, TEACH & 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.
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.
Unlike marketplaces, where educators must do heavy revenue sharing, Edmingle allows them to successfully launch and scale their online teaching business while allowing them to keep full control over their brand, finances, and data. This allows them to build a brand where they reach out to their target students and build a loyal customer base.
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 75 Crores 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% over the last year.
Gaurav Doshi, the Founder, and CEO of Edmingle said, “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.”
He further added that “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).”
Speaking on why they have invested in Edmingle, J A Chowdary, Co-Founder & Partner of SucSEED Indovation Fund, said, “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.”
Adding further, J A Chowdary said 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.”
Speaking on this investment further, Gaurav Gulati, Founder of ScaleX Partners, said “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.”
About the market Potential in this space: The TAM for Learning Management System in the world is US$ 13 Billion, projected to grow to US$ 25 Billion by 2025.
The global online education market is slated to reach $325 billion in the next few years. Increased smartphone and internet penetration, content digitisation, 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.