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Data-driven study abroad assistance platform ForeignAdmits has raised Rs 3.26 crore from Unicorn India Ventures and in partnership with other marquee investors including SEA Fund, Beerud Sheth (Founder CEO, Gupshup, Zishaan Hayath (Founder CEO, Toppr), and Keshab Panda (Former CEO, L&T Infotech).
This is the second investment by UIV in Foreign Admits. The Company raised a seed round from Unicorn India recently, taking the total funding raised to over $1 million.
The Funds raised in the current round will be used for enhancing the tech platform to provide a better experience to the students and partners and ongoing business development efforts.
Speaking on the investment, Anil Joshi, Managing Partner of Unicorn India Ventures said, “ForeignAdmits has demonstrated a strong growth track record since we last invested in the company. As the world opens up and students look for higher education opportunities in top global universities, we want to back the company as it goes full steam ahead with foreign admission season.
ForeignAdmits has grown 10X in the last 12 months across various business growth parameters. Currently, the platform sees 2 lakh monthly traffic organically, which is growing at 25% m-o-m. The Company has over 250 agent partners network in place to meet the growing demand for data-driven and peer-to-peer admission counseling in India.
ForeignAdmits with a team size of close to 100 is currently serving students in India and 10 other countries and has over 35 university partnerships.
Further talking about the fundraising, Ashwini Jain, Co-founder and CEO of ForeignAdmits, said, “We want to become a global leader in the overseas education space and help anyone, from any country, access the World’s best education to achieve their full potential using our technology. Students especially in tier 2 and 3 towns don’t enjoy exposure and guidance when compared to their metro counterparts. This is true for countries across the World. With the use of technology, we aim to transform the overseas study industry with better, efficient, and trusted technology products. This will also enable counselors and agents to help students with a better admission and post-admission experience.”