PC: Entrackr
New developments are breaking for the space of online education, as the learning-focused OTT platform Seekho based out of Bengaluru is set to close its new funding round worth up to $10 million. The funding round hailed well for Seekho, which is about to close a new funding round worth up to $10 million, less than 18 months after striking the last funding round, reveals its accelerated growth and appeal for investors.
The sources close to the matter said Seekho is at almost the final stages of negotiations to raise $8-10 million in Series A funding led by Lightspeed and Elevation. What’s interesting is that the company has already raised $3 million from Elevation and other investors a year ago in March, reflecting continued investor interest and conviction around the value proposition and growth trajectory for the business.
Founded in 2020 by Rohit Choudhary, Keertay Agarwal, and Yash Banwani, Seekho is one of the best pioneering players in the online education venture, which allows people to learn new things by providing diverse courses that can prepare learners for any field, including parenting, the share market, Instagram, education, and others.
Focus on making education accessible to not just tier II cities. The company seeks to make information like values, history, geography, and science easily accessible in easy-to-understand 2-5 minute episodic series, and that’s exactly what Seekho provides. There are flexible subscription plans every month as well as weekly, so a diverse individual can take it at their convenience.
Sources close to the deal said that the terms of the funding arrangement are agreed upon, and it is set for consummation unless any untoward situation is observed. Seekho is said to be valued at nearly $45 million, which has roped in two investors seeking to buy over 20% share in the company, which stresses how well a company has progressed and how optimistic the investors are about its prospects.
Having co-led this new round of funding with Lightspeed, Elevation Capital can only reiterate the VC firm’s overwhelming confidence in the value proposition and positioning that Seekho brings to the table. The latest statistics tell an impressive tale; with close to 30% opting for annual subscription plans, there is indeed the stickiness of users, thus joking off the fad or flash-in-the-pan analogy and proving it as a long-play.
Though quite a few attempts were made to seek comments from Seekho, Elevation, and Lightspeed, comments could not be elicited on initial glance. However, should the management be able to receive any update, all these will be forthwith reflected in this report for further insight into the funding journey of Seekho.
Elevation Capital has picked up nearly 24% in the company, as reported by a startup data intelligence platform called TheKredible; the earlier the previous Series A round had cut the stakes of three cofounders equally at 16.65%.
In essence, Seeking investment soon will mark the change the firm seeks to create in online learning, leaning towards enriching access for learners to meaningful, engaging, and impactful learning. With leading investors supporting it and a dedicated team following its work, Seekho will scale new heights, broaden its users, and firmly position itself as a leader in a dynamic landscape of online learning platforms.
