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GradeStack Secures Series A Funding From Times Internet
Delhi based GradeStack has secured funding from Times Internet Limited (TIL).
Though the funding amount hasn’t been disclosed, it is expected to be utilized to extend the marketing efforts and add more content developers and publishers, besides expanding scope of the platform.
Started merely a year back, this is GradeStack’s second round of funding. The company managed to raise Rs. 10 Lakh in lieu of 10% of its stake when it was a part of TLabs’ Summer 2013 batch.
What does GradeStick offer? Started by Sanjeev Kumar and Shobhit Bhatnagar, GradeStack provides web and mobile based interactive education courses for GRE, CFA and CBSE educational boards. The company has partnered with educational publishers to create mobile friendly courses with interactive content.
Presently the company has Android apps and also a web–based interface. It is planning to release an iOS version by the end of April. GradeStack claims to offer more than 30 courses and has been adding 8-10 courses every month. The company hopes to increase the number of courses to 100 by June this year.
GradeStack has a simple revenue sharing model with the publishers. The startup provides 30% of its revenues to the content provider, while keeping the remaining 70% for itself. GradeStack assures the content providers of increasing their exposure and consumption via continuous technology development and distribution of Mobile Apps.
From the user’s perspective, GradeStack has a multi–tier Freemium model. Users are free to browse and peruse multiple specific course materials. It is built to resemble an e–book reader, where users can browse through various courses and download any course of their preference. These courses are subsequently added to the user’s library. Apart from this, GradeStack also has apps for for specific topics like Java Programming, General Knowledge, Maths and competitive exams like SSC, IIT JEE, GRE and CAT among others.
Online and especially Mobile based educational content dissipation and consumption is truly a promising avenue. By investing in GradeStack, TIL appears to have smoothly ventured into the same. What do you think?
Source | iamwire
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Source: http://www.watblog.com/2014/03/31/gradestack-secures-series-a-funding-from-times-internet/
