PNN
New Delhi [India], April 1: CollegeDekho has secured INR 30 crore in funding from Lighthouse Canton to fuel its next phase of growth. This strategic financial move will support the company's plans to enhance its technological infrastructure, expand its reach, and ensure seamless operations during the upcoming admission season. The company recently announced its financial results, wherein CollegeDekho's revenue from operations surged 32.2% to Rs215.6 crore in FY24, compared to Rs163 crore in FY23.
The latest round of funding underscores CollegeDekho's market position and its commitment to empowering students and colleges through guidance and skill-based degrees through partner colleges and universities.
CollegeDekho has a track record of facilitating over 200,000 admissions in the last 7 years to India's Higher Education Institutions. It also offers skill-based Degree programs with partner institutions and has contributed to over INR 5,000 crore in fee income for India's higher education institutions.
Ruchir Arora, CEO & Co-Founder of CollegeDekho stated, "This round of funding is a strategic step to ensure we are fully prepared for the upcoming admission season and beyond. Our mission has always been to provide access to quality skill-focused higher education and empower students to make informed decisions. With this funding, we believe that we will be able to scale new heights and deliver value to our students and partner institutions."
The latest financing round comes on the heels of two experienced industry veterans recently joining the CollegeDekho leadership team to accelerate its growth.
-Arshad Mumtaz joined CollegeDekho as Chief Operating Officer, Enrolment Business, and brings 26 years of experience in sales, operations and outsourcing with experience leading teams at market-leading organisations. He joins CollegeDekho from IGT Solutions and has had successful stints at Spanco and Bharti Airtel, amongst others, in leadership roles. Arshad will be responsible for leading both Operations and Sales for CollegeDekho's Retail business.
-Deep Prakash has joined CollegeDekho as Head of Sales - Retail business and GetMyUni. Deep brings over two decades of experience leading sales organisations across companies like SMC Real Estate, Cloudfarm and Agent Hero. He is a strategic acquisition and growth expert and will drive sales across the country for CollegeDekho's Retail and GetMyUni businesses.
On the recent leadership hires, Ruchir said, "I'm really excited about Arshad and Deep joining our team to spearhead our core Retail Admissions vertical. Their addition would add tremendous experience in our team, enhancing our ability to drive efficiencies and growth in our business. We believe that now we have a fine leadership team that will help us further establish our long-term commitment towards profitable growth and help us achieve our mission to be the trusted guide for students to help fulfil their higher education aspirations."
On his joining, Arshad Mumtaz, Chief Operating Officer - Retail Business commented, "I am extremely grateful to Ruchir for allowing me the opportunity to contribute to the nation's growth through Higher Education. I really look forward to contributing to CollegeDekho's growth and helping students to achieve their true potential by joining the right college to pursue their higher education dreams"
Speaking on the occasion, Deep Prakash, Head of Sales - Retail Business and GMU said, "I have been very impressed with the way CollegeDekho has shaped up over the years. I look forward to working closely with Ruchir and the leadership team to drive growth and market expansion for CollegeDekho while helping in nation building through demoratisation of higher education."
The company's recent recognition with the Growth Award at the EdTechX London Fest highlights its global impact and innovative approach.
About CollegeDekho.com
CollegeDekho was started by Ruchir Arora (CEO and Co-Founder), Rohit Saha (Co-Founder) and Saurabh Jain (Co-Founder) in 2015, for students to get guidance to reach the right college and for colleges to teach them better. CollegeDekho has a Common Application Form that enables students to apply to thousands of colleges using a single form. This helps students save time, money and effort required while submitting individual forms. By empowering them with valuable insights, students are enabled to make well-informed decisions regarding colleges, courses, and career trajectories. Additionally, CollegeDekho helps universities and colleges to offer future-skill oriented degrees thereby enhancing the student's overall learning experience and equipping them with the necessary skills to thrive in the job market. With a vast database of information on 35,000+ colleges and numerous courses, CollegeDekho serves as a rich resource for students. Last year, the platform garnered a massive 225+ million website sessions. CollegeDekho offers free counselling services to over 12 million students, ensuring that they receive the guidance they need to make informed decisions about their higher education.
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