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2013-03-15

IAN invests in RankJunction

Angel Investors Network, Indian Angel Network (IAN) today announced its investment in Nagpur-based ranking platform for competitive exams, RankJunction. IAN investor members Jay Chopde and Ravi Kiran led this round of investment in the start-up and will j

Angel Investors Network, Indian Angel Network (IAN) today announced its investment in Nagpur-based ranking platform for competitive exams, RankJunction. IAN investor members Jay Chopde and Ravi Kiran led this round of investment in the start-up and will join the RankJunction board.

The husband-wife duo of Sameer and Rashmi Gautam founded RankJunction in 2011 to create an innovative platform to take a ‘Live’ test which is a prescheduled online examination taken by thousands of users together. At the end of the test, students can see their All India Rank along with performance analysis and why they have ranked as they have.

With 15 million students appearing for various competitive exams in India every year, the company is chasing the Indian market which is estimated at Rs 5,000 crore.

While talking about the investment, Sameer Gautam, Co-Founder and CEO, RankJunction, said, “The investment raised will be primarily used for strengthening product development. It will also help to scale up the business by launch of more paid tests, bringing more coaching classes on the portal, creating alternate distribution channels and additional new courses for the students.”

The husband-wife team started with Medical PG Entrance Exam tests, has ambitious plans to expand into other domains like NEET UG, JEE Mains, CMAT, CTET, CSAT and Bank PO.

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