Hyderabad-based TalentSprint has raised Rs 20 crore in its Series A funding from Nexus Venture Partners. As part of this Series-A investment, Anup Gupta will join TalentSprint’s board of directors.
Co-founded by Madhumurty Ronanki, Santanu Paul, and J.A. Chowdary, TalentSprint is a skill development and training company which provides employability programs delivered by industry practitioners to college students and professionals who have just graduated from college, using experiential learning and its proprietary technology platform iPEARL (Interactive Platform for Remote Employability and Learning), which uses hardware and software technologies in cloud backed environment. The company claims to work closely with industry partners to deliver productivity and efficiency gains of up to 70% in terms of new talent acquisition.
The company claims to have graduated 3,000 professionals who have been recruited by more than 60 companies in the IT and BFSI sector and intends to skill 500,000 graduates by 2020. TalentSprint has learning facilities in Hyderabad and Chennai along with a College Partner Network. TalentSprint stated that it hopes to integrate 100 colleges in Andhra Pradesh, Tamil Nadu and Karnataka into its TalentSprint College Network in the near future.
In March 2011, National Skill Development Corporation (NSDC), a Public-Private Partnership (PPP) firm under the Finance ministry, had inked an agreement with TalentSprint, under which NSDC had picked up 6% stake in TalentSprint and had extended a Rs 10-crore loan facility to the company. In January 2012, it was reported that TalentSprint was planning to raise Rs 20 crore through a combination of VC Funding and private equity participation to scale up its iPEARL initiative. Last month, the company had tied up with Chaitanya Education Group to set up in-campus training centres in seven of the group’s engineering colleges.