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2013-02-25

Meritnation secures 30 Crore in funding from Info Edge

Meritnation.com - the online K-12 education website, has raised Rs. 30 Crores from Info Edge, which owns the job search engine site Naukri.com. Prior to this round Info Edge had invested Rs. 31.5crore in Meritnation over three rounds.\r\n

Meritnation.com - the online K-12 education website, has raised Rs. 30 Crores from Info Edge, which owns the job search engine site Naukri.com. Prior to this round Info Edge had invested Rs. 31.5crore in Meritnation over three rounds.

Pavan Chauhan, an alumnus of IIM Bangalore, who is the Founder & CEO of Meritnation said, "Currently the site attracts more than 7500 new registrations daily. Traffic to the site continues to grow impressively and has grown by 100 per cent over last year. The space offers exciting opportunities to scale up. The funds will be largely used to build our brand, expand geographically, offer new boards and create new products for existing customers.”

Elaborating further he explains, “The digital landscape is witnessing a rapid change, students are increasingly looking for ‘anytime anywhere’ content. We are aggressively investing in developing device agnostic educational solutions and are keenly looking at being at the forefront of this change.”

“Meritnation is the leader in the online k 12 space in India, with 4.2 million registered users. They have an excellent product that has seen a very high renewal rate, something that has helped further reduce the customer acquisition costs for Meritnation. It has an excellent management team that has executed brilliantly. We have immense faith in the team’s ability to continue to dramatically scale up the business. We are very excited to be a part of Meritnation in this journey." Info Edge Founder & Executive Vice Chairman Sanjeev Bikhchandani said.

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