Delhi-based DreamCareer (iDC), a career planning ed-tech startup has raised an undisclosed sum as pre-series A funding from The Times of India publisher BCCL’s (Bennett, Coleman & Co Ltd’s) strategic investment arm, Brand Capital.
Ayush Bansal, co-founder & CEO of iDC says,
“At the time when we were raising our angel round, ah! Ventures was the first to recognise the potential in iDreamCareer and pushed us into the market which led to successfully closing the round. Also Team ah! has been supporting us further in business development and also as a responsible stakeholder in the startup ecosystem.”
iDreamCareer further plans to raise $5 Million as part its Series A round by the end of this year. The new funds shall be utilized to expand its presence in 15 cities in India & Middle East and to develop complementing products in the form of assessment and mentoring tools.
The startup provides career planning services, college admission information and counselling to students. It currently operates in Delhi-NCR, Bangalore and Ranchi. Bansal claims the portal gets about four to five lakh unique visitors every month and earns monthly revenue of Rs 10 lakh.
The portal was founded in late 2013 by Bansal and Pravesh Dudani. Bansal is an MBA in finance from ICFAI Business School and was an investment banker earlier. IIT-Kharagpur alumnus Dudani earlier co-founded GreenHat Ventures and worked at Educomp Solutions and IndiaCan Education. He has now moved to a non-executive role at iDreamCareer.
“Disruptive impact on higher education discovery using technology and experienced counsellors is the kind of product every parent would be happy to use and thereby ticked all the right boxes for us. The Times Group’s widely-accessed media platforms will help iDC in rapid customer adoption thus helping millions of students access unbiased quality career guidance,” Puneet Suri, Director, Brand Capital.
Mohit Satyanand, angel investor and Board of Director at iDreamCareer.com said
“A rapidly developing India is presenting today’s school-leavers with a bewildering range of career and study options. Finding the right fit for their aptitude and interest should not be left to chance, but emerges from a careful study of all their options. This requires experienced counsellors, backed by a detailed and exhaustive database of the higher education scene in India. iDreamCareer has all the components in place”
Post its last round of funding in August, 2015, iDreamCareer has changed its targeting proposition and has made a complete transition to a B2C model.