WizIQ, An Online Educational Startup, Raises $4 Million In Series B Funding Round

by Paul Joseph on January 24, 2013 · 0 comments

WizIQ is an online Indian platform for schools, colleges and Universities. It is owned and operated by Authorgen which is in turn a subsidiary of Educomp . Authorgen has announced that they have raised $4 million in a Series B investment round which was lead by private equity firm Kaizen and Bertelsmann, a Germany based media company which also owns Gruner+Jahr (which acquired NetworkPlay and SeventyNine last year). The investment is supposed to ‘bolster WizIQ’s position as a collaborative learning platform for teachers and students’ which just means that the service will be getting better technology and will strive to get more users from academia. Another online tool called authorSTREAM (which works mainly on Powerpoint based sharing of content) will be merged with WizIQ as part of the deal. authorSTREAM has 4 million users and these will also be integrated with WizIQ. Harman Singh, CEO and Founder of WizIQ released a statement following the funding round. “WizIQ’s vision is to enable anyone to teach or learn anytime and anyplace. For the last five years, Educomp has supported using moving closer to this vision, and now the new investment will take us to next level. Building an online network of teachers and students and providing them with the right tools to interact online is necessary to make education accessible to everyone. The investment will help WizIQ build a better platform and infrastructure for online and blended education.”Within a short span of time, WizIQ has been able to help over 2.5 million students learn and over 200,000 teachers teach online in more than 100 countries at a growing annual rate of over 200% revenues. Current stats released by the company show that they have managed to reach about 2.5 million students and 200,000 teachers/trainers in over 100 countries. They claim that they have grown by 200% annually. WizIQ has also forayed into the mobile space by releasing Android and iPad apps for the service which provide support for up to 12 languages. Website | WizIQ Looking For A Social Media Agency?? – Contact WATConsult – India’s Leading Social Media Agency

[via WATBlog.com – Web, Advertising and Technology Blog in India]

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