Chennai

Chennai-based Disprz raises $13 million in Series B Funding

Disprz, an enterprise skilling startup, has raised $13 million (₹96.51 crore) in the Series B funding round led by Dallas Venture Capital (DVC) and Mars Growth Capital. The round also saw participation from the existing investors Go1 (an Australian unicorn company in this space), Tara India Fund IV, managed by KOIS, Auctus Capital (Family office of Vikas Phadnis, co-founder of EuroKids) and Kae Capital (a leading seed fund). Unitus Capital acted as the financial adviser to the company.

Founded in 2015 Disprz is an AI-powered learning and skilling suite that helps companies right-skill their workforce. The company serves over 1.2 million users. Disprz will use this investment to scale up product and engineering teams, establish a sales and marketing division in the U.S., expand its presence in South East Asia and Middle East, and invest in building industry-specific product solutions.

“We started out as a single product company, but are now a multi-product company, addressing the skill needs of both frontline and knowledge workers through unique offerings, while solving key business problems,” said Kuljit Chadha, co-founder and COO of Disprz. He added, “We are going deep into sectors such as banking, insurance, fin-tech, e-commerce and high-tech, where we have developed deep expertise in skill recognition, skill measurement and skill impact.”

“Our aim is to act as the window for every aspect of learning and skilling spend at corporations and show business impact. Clients that use the full breadth of our offerings now see tangible business impact — higher sales, better customer experience and faster times to market,” said Subramanian Viswanathan, CEO of Disprz.

Global learning and development spending stood at $360 billion in 2019 and the COVID-19 pandemic has thrown this spending into high gear. It is expected to touch $500 billion in 2025. Disprz has doubled in revenue (year on year) and grown by 150% in the calendar year 2021. By 2025, the start-up aims to achieve a top line of $100 million across the globe.

Gokul Dixit, venture partner at DVC, said, “The pandemic has acted as a catalyst to the rapidly growing skills-tech market. We believe that the DVC Advantage program, focused on start-up companies’ needs in multiple areas such as product and technology strategy, executive mentorship, talent acquisition and with an enhanced focus on business development, would greatly benefit Disprz during this growth phase.”


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Printable version | Jan 19, 2022 1:27:16 PM | https://www.thehindu.com/news/cities/chennai/chennai-based-disprz-raises-13-million-in-series-b-funding/article37571344.ece

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