Chinmay Bidkar
30 November 2016, India :
Mobile SaaS platform for corporate training HandyTrain raised funding close to $1 million from investors including Silver Range Investments of Hong Kong, Lumina Datamatics and Shun Yoshida, Managing Director at BoA Merrill Lynch Tokyo.
Individual investors are from a star-studded line-up that includes Mahesh Murthy (Founder and Managing Partner of SeedFund), R. Ramaraj (former CEO of Sify and co-founder of
The Chennai Angels), Siddharth Parekh (Founder of private equity fund Paragon Partners),
Avtar Monga (Chief Operating Officer of IDFC Bank), BS Nagesh (Vice Chairman of Shopper’s Stop) and Gautham Pai (Managing Director of the Manipal Group).
Gourav Jaswal, Director of HandyTrain “Corporate training is a market of staggering size. For instance, a year ago Accenture spent about $840 million on training their 375,000 employees globally. That’s effectively over $2,000 (nearly Rs 1.5 lakh) per employee per year. Training is a universal service and therefore the addressable market for HandyTrain is eye-popping in scale.”
HandyTrain is a mobile platform that lets companies anywhere in the world create and deploy programs to train from 50 to 25,000 people. The company claims to have crossed more than 20,000 paid users within a year. Source- BW Online Bureau