Gurgaon-Based Ed-tech Startup Pesto has recently raised fresh capital from many angel investors. The company says that it is going to use the funding to expand services. It plans to go global and plans to build a sustainable business. Though the amount of investment was undisclosed, we can expect a good amount because a lot of investors participated.
About Gurgaon-Based Ed-tech Startup Pesto
Presto is an edtech startup founded by Ayush Jaiswal in 2017. They provide a 12-week program for engineers to help them bag an international job that can be done remotely. The company claims and also has registered an increase in 3 times in salary of engineers that took their program. Presto also has an interesting way of takes the fees. They don’t take tuition fees, but once a student gets hired, they cut 17% of their fees for the next three years.
Details on the investment
The investors that participated in the funding round are Anand Chandrasekaran, Ankur Nagpal, Sahil Lavingia, Ryan Hoover, Hiten Shah, Andreas Klinger, Cindy Bi, Derek Anderson and Maran Nelson. There were CEOs, founder, co-founders of companies and also an angel investor.
Ayush Jaiswal, Co-founder & CEO, Pesto Tech said, “We are excited to welcome some amazing people to the Pesto fam, their advice will be valuable for us as we get into our next phase of growth. As the world goes remote, our aim is to make sure we make it extremely easy for companies to think about talent acquisition globally from day zero. This will help build a level playing ground for talent to compete for such opportunities, irrespective of where they’re born”.
The company has also raised some fundings in the past. In May 2019 it raised $2 million in seed round funding from Matrix Ventures.
Comments of the investors
Ryan Hoover, Founder of ProductHunt, said, “The future of knowledge work is remote, and Pesto is accelerating this transition, connecting strong developers in India with the world’s best startups.”
While Maran Nelson, Founder & CEO, Clara labs & Interact said, “A large part of the next million tech jobs will be remote, and 23.5% of the world’s developers are in India. Pesto can take these opportunities and offer them to underserved markets. The timing to do this couldn’t get better”,
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