Kochi-based and Entri Software owned and operated local languages-focus job learning application startup Entri announced that it had raised an additional $1.7 million in funding in pre-Series A funding round led by early-stage venture capital firm Good Capital.
Other investors who also participated in the funding round included Kashyap Deorah, Founder of HyperTrack, and Hari TN, Head of HR at online grocery giant BigBasket.
The startup will be using its freshly raised funding to ramp up its marketing efforts and produce more content over the next few months, and it claims to have witnessed a 100% spike in new users and a 150% growth in revenue since the lockdown.
The fueling in of fresh capital follows the latest infusion of $1.4 million in February this year that was led by the Mauritius-domiciled firm Good Capital, in the process, closing its pre-Series A round at $3.1 million, ET (1) reported.
30% MoM growth
Founded in 2017 by Mohammed Hisamuddin and Rahul Ramesh, Entri uses mock and adaptive tests, flashcards, and video lessons across multiple local languages for job aspirants as a method of preparing them for private and government jobs.
Currently, the platform provides over 150 courses for government recruitment examinations and upskilling courses in Malayalam, Tamil, Telugu, Kannada, and Hindi.
“Our revenues have grown 30% month-on-month for the last four 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 three months.”
The company is on track to reach over 5 million users in 2020 and aims to reach out to 10 million users in the next 18 months. Entri currently has 3 million users, 90k paid subscribers and is adding 10k users daily.