Online education firm RankJunction has raised undisclosed amount of investment from Indian Angel Network (IAN). The investment was led by IAN members Jay Chopde and Ravi Kiran, with both the members joining the company board. The company plans to use the funding raised to strengthen its product development. It also plans to use the investment to launch more paid tests, add more coaching classes on the portal, introduce new courses to the students and create alternated distribution channels. Launched in 2011, Nagpur-based RankJunction offers a mock test platform for various competitive exams like IIT JEE, Medical PG Entrance, Common Law Admission Test (CLAT), Bank Probationary Officer Exam among others to students. The company claims to have 1 lakh users from more than 1,000 locations across the country. Offerings: When we checked, we noticed that RankJunction currently offers two types of tests - Live Tests and Practice Tests. Live Tests are pre-scheduled tests for a specific subject which can be taken by students at a specific time period, while Practice Tests are on-demand tests which students can take to improve their knowledge and exam taking ability. The company says that it provides students with a rank and a performance analysis of their answers for live tests, while it provides only performance analysis for practice tests. Pricing: RankJunction currently offers a mixture of free and paid tests for both live and practice tests. While the free tests can be taken by registering for an account on the site, we noticed that one cannot…
