Test-prep platform Testbook, which helps students from tier II cities and beyond prepare for government jobs, has raised Rs 60 crore in fresh funding led by Iron Pillar, as it looks to offer courses for state-level government services exams over the next two years.
Existing investors Matrix Partners India, Better Capital, AngelList and President of Reliance Jio, Vikas Choudhury, also participated in the Series B round. The latest investment brings the total equity funding raised by Testbook to a little over USD 12 million.
The company said most of the new capital will be utilised to expand its offering to include state government job recruitment exams to its curriculum and expanding its base of exams to 400 from 100 in the next two years. The other major investment area will be to setup offline centres in small towns where students will be able to use its online learning service.
Source: Economic Times