Index
- An introduction to Testbook
- Unique features of Testbook
- The Founders
- What is the Testbook test series, and why is it so popular?
- The top fundings of the company
- Recent Funding led by Iron Pillar
- The next phase of growth
An introduction to Testbook
Testbook is the leading government exam preparation platform in India. The surge in EdTech has benefited platforms like Testbook as more students are now encouraged to move their learning activities online. The company has come up with both free and paid subscriptions for students for accessing the various tests, tutorials, etc. available on the platform. Their ‘freemium’ plan has free-content to persuade students to join. There is also a paid mock test scheme and a premium paid subscription, which gives the students full access to all the content.
If a website genuinely promises good results, people are willing to pay the price for it. This influence of online learning has only increased over the years. Moreover, online exam preparation allows students to enjoy the process of learning at their convenience. This certainly contributes to Testbook’s increasing number of users every year.
Testbook was established in January 2014, and its headquarters is in Navi Mumbai, India. After the platform was launched, the company offered its first guidance to students preparing for the GATE exam (Graduate Aptitude Test in Engineering). Testbook has more than 75 lakh students as registered users.
Unique features of Testbook
Testbook has grown to be the most approved among all online learning platforms. Both the app and the website provides a variety of mock tests which aim to train the students to clear exams like GATE, CAT, SSC, Insurance, Railway RRB, Defense exams, etc. Some of the salient features of Testbook that set it apart from its competitors are:
- It provides an opportunity for students to get their doubts answered. A group of subject experts and the student community on Testbook are ready to listen and clear the doubts of the learners.
- The app allows you to download unlimited course videos. This can save a lot of mobile data and can be really convenient for students with a poor internet connection. You can watch the videos anytime, anywhere, without any buffering.
- You can create class notes on the app and save them to be used later. Testbook allows you to either take a screenshot or download the notes, and it is sure to be useful for revisions.
The Founders
Testbook was founded by a group of IIT alumni from Delhi and Mumbai: Ashutosh Kumar, Manoj Munna, Narendra Agrawal, and Praveen Agrawal. They raised many funds to initiate their startup and have been the backbone of the platform throughout these years. The content on Testbook is created and edited by exam toppers and faculties who have experience of teaching in the respective field. The company has helped over 35,000 students to secure a job in the government sector as of now.
What is the Testbook test series, and why is it so popular?
The Testbook test series includes a range of mock tests that covers all important government competitive exams in India. Some of the test series for upcoming exams are :
- SSC CGL Testbook Test series
- SSC GD Constable Testbook Test series
- SBI PO Testbook Test series
- IB Security Assistant Testbook Test Series
- LIC AAO Testbook Test Series
The platform also provides test series for many other banking and insurance exams like Canara Bank PO, RRB Office Assistant, IBPS Clerk, SEBI Grade A, etc. Students are guaranteed to score better by regularly practicing the Testbook test series.
The top fundings of the company
A few months after Testbook was established, the founders managed to raise an amount of 2,50,000 from Shankar Narayanan, Utsav Somani, LetsVenture, and Ah! Ventures. This round also received a contribution from other entrepreneurs, investment bankers, and educational professionals. Later in March 2016, Testbook received an unannounced amount of funding from S. Chand Group. This enterprise has been famous for being India’s oldest and greatest educational service provider. Matrix Partners, an investment firm, also funded an undisclosed amount to Testbook. Along with Matrix partners, the other current investors in the company are Better Capital, AngelList, and Vikas Choudury, president of Reliance Jio.
Recent funding led by Iron Pillar
New doors have opened for Testbook after recent funding conducted by Iron Pillar, raising an amount of ₹60 crores. Iron Pillar is a venture capital company based in Maharashtra, Mumbai which focuses on mid-stage technology investments in the country. This recent investment is sure to allow Testbook to expand their platform and reach a wider base of students in the future. The annual recurring revenue run rate of the company was ₹30 crores before this latest funding.
The next phase of growth
Testbook is sure to reach new heights with the help of the recent funding by Iron Pillar. The founders had already been planning to offer more courses for state-level government services over the next two years. If a student is preparing for a government or banking exam, they are most probably planning to give a few exams at the state level. This is why Testbook will be of help to a larger number of student populations in the future. Another major part of the new capital will be used to expand the curriculum and include more examinations. The company hopes to increase the number of exams covered from 100 to 400 by the year 2022.
Testbook has always given special attention to the development of education in small towns. They look forward to setting up small offline centers in these areas where the students can utilize the platform’s online learning services. Testbook was able to brilliantly maintain their economics and capital efficiency for the past few years. The co-founder and CEO of Testbook, Ashutosh Kumar believes that the next level of development for the company is going to come from the state level exams. These future targets will definitely help Testbook to come into existence as a fully developed online learning system.
