Disprz, a startup specializing in entrepreneurial skills, has raised $ 13 million in a Series B funding round led by Dallas Venture Capital and Mars Growth Capital. The cycle also saw the participation of existing investors Go1 (an Australian unicorn in this space), with Tara India Fund IV being managed by KOIS, Auctus Capital (Family office of Vikas Phadnis, co-founder of Eurokids) and Kae Capital (a leading seed fund).
Founded in 2015 by Subramanian (Subbu) Viswanathan and Kuljit Chadha, Disprz is an AI-powered learning and skills suite that enables companies to properly qualify their workforce. The company serves over 1.2 million users.
Disprz will use this investment to grow its product and engineering teams, establish a sales and marketing division in the United States, expand its existing presence in the Southeast Asian and Middle Eastern markets, and invest in creating industry specific product solutions.
“We are delighted to welcome Dallas Venture Capital to the Disprz mission. The founding team of DVC is made up of former founders who have developed and left start-ups and their understanding of the SaaS space, coupled with their strong network in the United States, make them an ideal partner for Disprz as we are looking to establish ourselves in developed markets, particularly the United States, ”said Disprz CEO Subramanian Viswanathan, serial entrepreneur and alumnus of IIT-Madras, ISB and McKinsey.
The company has over 225 employees and an Indian and global customer base of over 200, which includes Wellness Forever, More Retail, Times Internet, Motilal Oswal Financial Services, Godrej Storage Solutions, Hindustan Coca Cola Beverages, KBZ MS General Insurance, Oman Oil , AIA Groupe and others.
“We started as a single-product company, but are now a multi-product company, meeting the skill needs of frontline workers and knowledge workers through unique offerings, while solving key business issues. We are no longer just an interesting learning platform, but a core business platform that can provide our customers with a competitive advantage, ”said Kuljit Chadha, Co-Founder and COO of Disprz.
“We are deepening into sectors such as banking, insurance, fin-tech, e-commerce and high-tech, where we have now developed in-depth expertise in skills recognition, skills measurement and the impact of skills. skills. We aim to strengthen the effective backbone of brands that touch our daily lives. We are already doing this in India and emerging ICCAs and we plan to replicate this in major global economies, ”said Chadha.
“The founders’ pedigree and vision, the company’s continued traction in emerging markets, and the huge untapped potential of technology skills globally have made us excited to partner with Disprz. The pandemic has also acted as a catalyst in the rapidly growing skills and technology market, ”said Gokul Dixit, venture capital partner at Dallas Venture Capital.
Global spending on learning and development stood at $ 360 billion in 2019 and the coronavirus pandemic (Covid-19) has propelled this spending into high gear, which is expected to reach $ 500 billion in 2025. Disprz a Consistently doubled its revenues year over year and calendar year 2021 saw their growth of 150%. By 2025, the startup aims to realize the vision of reaching $ 100 million in revenue across the globe.
Unitus Capital acted as financial advisor to the company for this transaction.