Online skill assessment firm Wheebox looks to raise fresh funding to expand overseas
Gurgaon-based Integrated Learning Solution Pvt Ltd, which runs an online skill assessment venture under Wheebox.com, is looking to raise fresh funding for its next phase of expansion, a senior executive of the company told Techcircle.in.
The money raised will be used to expand in the US and the Middle East markets, apart from investment in technology and manpower.
"We are simultaneously looking at acquiring a company that develops content or any performance testing firm through the funds we receive," according to Nirmal Singh, founder and CEO, Wheebox.
Earlier, HR company PeopleStrong along with Lumis Partners made a strategic investment in Wheebox.
Started in April 2011, Wheebox offers a bouquet of validated tests, spanning areas such as language, cognitive, behavioural, information technology and general abilities as well as core domain skills in banking, financial services and insurance (BFSI), engineering and retail. It offers assessment services solutions particularly to enterprises and academia. Wheebox is headquartered in Gurgaon and has offices in South Africa and the UK.
It started with a B2B model and only in January this year, it started focusing on a B2C business stream. Currently, the company's entire revenues come from B2B; it has around 40 corporate clients across sectors such as BFSI, IT-ITES, manufacturing and retail. The company says it has an annual user base of 0.4 million and aims to take it to 3.5 million by March 2015.
"We have invested in two things till now: products and sales & operations. We are thinking of scaling up at 10x for the next three years," said Singh.
Other players in the online skill assessment space are, Mettl which has raised funding from Kalaari Capital, Aspiring Minds and MeritTrac.
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(Edited by Joby Puthuparampil Johnson)