Latest Good Capital News
Jul 23, 2020
Entri raises an additional $1.7 million in pre-Series A funding round The latest fund infusion follows the $1.4 million the three-year-old job learning company raised in February this year Biswarup Gooptu | ETtech | Updated: July 23, 2020, 15:27 IST Entri Software, which owns and operates local languages-focused job learning app Entri, has raised an additional $1.7 million in funding led by early-stage venture capital firm Good Capital , the Kochi-headquartered startup announced on Thursday. The latest fund infusion follows the $1.4 million the three-year-old company raised in February this year, and which was also led by the Mauritius-domiciled Good Capital, in the process, closing its pre-Series A round at $3.1 million, according to an official statement. Other investors participating in the round include Kashyap Deorah, founder of HyperTrack, and Hari TN, head of human resources at online grocery major BigBasket, the statement said. Founded by Mohammed Hisamuddin and Rahul Ramesh in 2017, Entri utilises mock and adaptive tests, flashcards and video lessons, across multiple vernacular languages for job aspirants, in a bid to prepare them for government and private jobs. It now provides more than 150 courses for government recruitment exams and upskilling courses in Malayalam , Tamil, Telugu and Kannada and Hindi. “Even as ed-tech companies get a lot of attention, the local language markets have been massively underserved. Entri’s attractive economics and rapid growth are testament to the depth of the untapped opportunity in local language learning,” Arjun Malhotra, partner at Good Capital, said. The startup, which is also part of Boston-based ed-tech focused accelerator LearnLaunch, will use the proceeds from the funding round to ramp up its marketing efforts, and produce more content over the next few months, according to the prepared statement. It claims to have seen a 100% spike in new users added and 150% growth in revenue since the lockdown. “Our revenues have grown 30% month-on-month for the last 4 months to reach an ARR of $2 million. We now have a playbook that we are able to replicate across India and with the kind of growth we are seeing, we are on track to hit an ARR of $5 million in the next 3 months,” Hisamuddin said. The company said it is on track to reach 5 million users in 2020 and is targeting 10 million users in the next 18 months. According to the statement, Entri currently has 3 million users, of which 90,000 are paying subscribers, and is adding 10,000 users daily. “Cracking competitive exams to get a government job is life changing for people in India. Education has been an important focus in my investments, and up-skilling is an important theme in a fast-evolving world. Glad to see Entri make an impact,” Kashyap Deorah said.