ixamBee

Jobs for the students of Bharat

Official Website

Reports and Documents

₹ 2.50Cr

Total Round Size

Equity

Mode

₹ 10 Lacs

Minimum Ticket Size

Valuation

₹ 81 Cr Pre Money

Previous Rounds Details

Total Raised: INR 15 Crore in in 3 funding rounds. Prominent investors are Inflection Point Ventures (IPV), S Chand Publishing, 360 One (formerly Mumbai Angels), SAN Angels, JITO, Keiretsu Forum, alumni of ISB Hyderabad and Keyur Joshi co-founder of MakeMyTrip.

Company Overview

ixamBee is building the largest job platform for students of Tier 2/3 for whom government job is the first preference. About 50 million candidates are preparing for government sector jobs, most of these candidates are from small towns of India. These candidates do not get the right guidance and coaching. On the internet they face the challenge of content overload. By providing crisper content and access to subject matter experts ixamBee Learning Experience (iLX) makes their exam preparation faster while improving the success rate. Online learning courses of ixamBee are most popular in the recruitment exams of banks and financial institutions such as RBI, SEBI, IRDAI, NABARD, SIDBI, Bank PO and others.

However, the fact is most of the government job aspirants do not get government jobs as the number of vacancies is limited. To help these candidates get a job, ixamBee has started connecting with private companies looking to hire freshers. These candidates get skill development programmes and placements in private sector.

About the Opportunity

Business Model

Operating direct B2C, ixamBee works on a freemium business model by providing free content in the form of guidance on various recruitment exams, eligibility criteria, syllabus, previous year papers and preparation strategy including practice tests. Users pay for online learning courses, study material and mock test packages.

Founders

Co-founder & CEO: An alumnus of ISB Hyderabad with extensive experience in business development and team building. Before ixamBee, he built microfinance portfolio of INR 700 Cr in North and East region.

Co-founder & CTO: is the first tech hire in MakeMyTrip. He developed the first booking engine and domestic website. He was also co-founder of BabyHugz.com.

Co-founder & Chief Learning Officer: She started her career as a Bank PO and later she joined SIDBI. In 2010 quitting her govt job, she started a coaching institute called Stratagem to pursue her passion of teaching.

Senior leadership team consists of experience leaders who have earlier worked with RBI, MakeMyTrip, CareEdge Ratings, YES Bank, and others and have graduated from prestigious institutions including ISB Hyderabad, Delhi University, IIM Kashipur, XLRI and others.

Revenue Model

Achievements & Market Traction

Reached 42 million Users out of which 2.5 million users have registered.

Over 100K hours of monthly online engagement.

Total 960 million questions attempted on the ixamBee platform.

Annual Revenue Run Rate (ARR): INR 5.5 Crore

Market Opportunity: USD 3.5 Billion market for government job aspirants

Summary

Round Size: INR 2.50 Crore (Raising bridge funding for a Series A of $5Mn in 12-24 months)
Valuation (Pre-Money): INR 81 Crore
Commitments Received: First commitment of INR 50 lakh plus soft commitment of INR 50 lakh making a total of INR 1 Crore.

Investment Opportunity for SAN Angels:

Investment Required: INR 50 Lakhs
Minimum Ticket Size: INR 10 Lakhs (or USD equivalent)
Mode: Equity

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