Career Power plans to raise Rs 65 cr to fund expansion


New Delhi, Sep 28 (PTI) : Test Preparation Organisation, Career Power plans to raise Rs 65 crore from venture capitalists and strategic partners to fund further expansion into tier II and III cities.

Career Power plans to raise Rs 65 crore from VC and strategic partners as part of its series A funding and has signed up Ernst & Young for this mandate.

This first round of funding will be used to strengthen the technology infrastructure, enhance its online product portfolio and brand building exercises, a release said.

Moreover, the funding will be utilised to expand its reach and penetration into more tier-II and III cities and will launch multi-lingual platforms soon after.

“There is a large pool of untapped students in tier-II and tier-III cities which lack the right kind of platform and our focus is to train those students and prepare them to be ready for government employment options,” Career Power Director and co-founder Anil Nagar said adding that “we are now actively looking at raising capital to increase our reach and focus on hiring best talent in the industry”.

Started in 2010, Career Power has over 65 branches across India and plans to have 100 branches by the end of this fiscal.