NoPaperForms Solution Pvt. Ltd, a Delhi-based startup has now secured Rs. 28 crores in a funding round of Series B in an all-cash deal from its existing investor Info Edge Ltd. Info Edge owns the famous job portal Naukri.com. NoPaperForms Solution Pvt. Ltd basically runs an enrollment management platform for educational institutes.
Incorporated in Feb 2017, it was originally a part of Career360, which was an online career counseling and education services firm. In 2015, Career360 was acquired by it.
In a press release, the company stated that after this funding round, its shareholding has increased to 48.1%. In November 2017, Info Edge invested Rs 5.66 crore in an all-cash deal and acquired a 27.92% stake in the firm.
As revealed by the company CEO Naveen Goyal, the company, after the latest round of funding, is valued at Rs 100 crore or $14.23 million at the current rates.
The fresh capital is expected to be utilized for expanding its business development and deploy teams, besides strengthening its technology infrastructure and product line.
Mr. Goyal added, “Offering programmes like digital marketing and then asking students to apply in a paper application is an anomaly that must go. Educational institutions in the country are at a tipping point with respect to digital transformation.”
Picture Credits: NoPaperForms