E-learning website Meritnation.com, has received an investment of Rs. 30 crore from Info Edge. Prior to this, Info Edge had invested Rs 31 crore in Meritnation over three earlier rounds. Meritnation.com plans to utilize the funds to build the brand, expand geographically and develop new educational solutions.
Pavan Chauhan, Founder, Meritnation said,”Traffic to the site continues to grow impressively and has grown by 100% over last year. The space offers exciting opportunities to scale up. We will continue to invest to further strengthen our leadership position. The funds will be largely used to build our brand, expand geographically, offer new boards and create new products for existing customers.” He further added,”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 provides multimedia tutorials, interactive exercises, assessment tools and exam help for school children and serves across seven countries. In the coming academic year, Meritnation plans to extend its comprehensive offering to IB, IGCSE and nine other state boards. This year it has made a foray into the lucrative test preparation space by adding online IIT-JEE and NEET courses to its portfolio. It is further planning to strengthen its presence in the test prep market by upgrading its offerings in CPT, NDA, hotel Management and BBA preparatory courses. Currently the website claims to have more than 7500 new registrations daily.