Edtech startup and skill enhancement platform InterviewBit has raised $20M in a series A round. The round was spearheaded by Sequoia India and Tiger Global. Global Founder Capital among other investors also participated in the round. InterviewBit claims that till date this is the largest series A financing round in the edtech sector.
InterviewBit had very recently launched advanced online coding program called ‘Scaler Academy.’ This online computer science program was meant to enhance the online coding skills among college graduates and young professional software engineers.
InterviewBit said that it will use the latest capital infusion for scaling up their enrollment and launch itself in new markets. It will also look to invest in their curriculum and their live teaching product to improve teacher-student experience.
Commenting on the funding round, Anshuman Singh, Co-Founder, InterviewBit said, “We are thrilled by the faith and support shown to us by our investors. A lot of young engineers don’t always have access and exposure to the relevant technical skills or recruitment processes of global companies. Our mission is to bridge that gap and help them grow in their careers.”
Shailendra Singh, Managing Director, Sequoia Capital (India) Singapore said “There is a huge global scarcity of high-quality software talent, and we have experienced it firsthand across the portfolio. As a result, we were very excited about Anshuman and Abhimanyu’s vision to build an advanced online computer science program.”
A recent report titled as ‘National Employability Report Engineers 2019’ depicts a very grim scenario of employability of the Indian software engineers. The report claims that the employability of Indian engineers is as low as 20%. InterviewBit claims that its newly launched Scaler Academy program looks to address this serious problem by giving engineers exposure to existing and latest technologies in the software industry.
Launched in April 2019, the company claims that its Scaler Academy program was massively over-subscribed; receiving over 200,000 applications within nine months of its launch.
Meanwhile, this is Tiger Global’s first investment in India after announcing the new funding corpus of $3.8 Bn. Tiger Global had announced about its new funding corpus barely 24 hours ago.
Incorporated in 2015 by Abhimanyu Saxena and Anshuman Singh, InterviewBit is basically a online edtech platform that imparts necessary skill sets to students and young professionally that invariably increases their employability chances. The company also helps students in guiding them to crack recruitment processes as well as provides referrals to the best opportunities in the software industry.