YourNextLeap.com, a web-based career recommendation engine which aims at helping students to make career decisions, has raised a Series A investment from Nirvana Venture Advisors, Patni family’s early-stage venture capital fund focused on the digital (mobile and internet) and electronic markets. The exact financial terms of the investment have not been disclosed. The company intends to use the investment for scaling up its web infrastructure and growing the team. Following the funding, Amit Patni, from the Patni Family and Rajan Mehra, formerly the Country Head for eBay in India, join the Board of Directors.
The company was founded in October 2010 by Suruchi Wagh, while Mohit Gundecha, formerly the Head of India Operations for mig33, joins the company as the Co-founder and CEO. Nickhil Jakatdar, CEO of VuClip and Alok Kejriwal, CEO of Games2Win are on the Advisory board of the Company.
YourNextLeap.com’s virtual career counselor comprises of a suite of online tools, which use psychometric evaluations and math models on past admission patterns, to offer personalized suggestions for Engineering streams (B.E/B.Tech/MS). University Suggestor and College Suggestor tools offer students advice related to admissions into Colleges, and the Branch Suggestor tools helps students in choosing an engineering stream. It also provides information on Visa, Scholarships, and accomodation for students planning to study in the US. The site has a freemium business model with selected advanced services requiring subscription. The company claims to have an ARPPU of Rs. 500.
Other players in this space include Info Edge owned Shiksha, HT Media owned HTCampus, Indiatimes owned EducationTimes, Educomp owned StudyPlaces, PagalGuy.com (one of the earliest online education related ventures in India), Sequoia Capital funded former-social-network Minglebox.com, Coolavenues.com, MBAUniverse.com, Accentium owned StudyNation*; Media company Malayala Manorama also has ManoramaHorizons. However, this one focusses on the engineering stream, exclusively.