Oliveboard, edtech platform in the government exam preparation space, has raised a pre-Series A funding of Rs 23 crores. The round was led by IAN Fund with participation from Education Catalyst Fund (ECF) and Yukti Securities.
This funding will enable Oliveboard to expand its number of national-level courses and exams, and to add state-level categories.
The Bengaluru-based startup will further focus on investing in technology for interactive data-driven products which will lead to customised learning at a more granular level for individuals.
Founders Abhishek Patil and V Satish Kumar’s identification of a huge gap in the accessibility of quality coaching and test preparation for government and quasi-government jobs in Tier 2 and 3 cities, led to the formation of the company in 2015.
The edtech platform, focusses on the aspirational student base, provides access to affordable and high-quality coaching to graduates preparing for jobs in the government sector. Oliveboard’s adaptive platform uses a data-driven approach for intelligent learning and offers Live Classes, Practice Tests, Live Practice Sessions, remedial material and other forms of interactive content to aspirants.
Co-Founder Abhishek Patil said, “There is no one-size-fits-all approach. We follow a personalized approach to learning that offers convenience and flexibility to aspirants preparing for government exams. Our key focus area is to provide data-driven personalized coaching to each learner based on their preparation levels for an exam.”
Sudipta Gautam, Managing Partner, IAN Fund said, “The market size of the government job entrance exam preparation industry in India is estimated to be nearly Rs 400 billion. Before March 2020, a large portion of this market was dominated by offline coaching institutes and the pandemic has been a catalyst in the adoption of online solutions. This market is bound to grow as the demand for test preparation has been stimulated by the increasing internet penetration in tier-2 and tier-3 cities in the country.”
The edtech platform currently supports 50 government exams. In the coming years, Oliveboard is planning to add 100+ various National and State-level exams to its bouquet of offerings