Home tutor provider Qriyo raises undisclosed amount from Dubai-based NB Ventures
Qriyo, a Jaipur-based startup which provides personalized learning and home tutors, has announced that it has raised an undisclosed sum in its Series A funding round. The funding round was led by NB Ventures, a Dubai-based venture capital firm.
The funding amount raised in this round will be used by the company to expand its operations in Chandigarh by June 2017. It will also utilize money to expand the courses offered in personalised competitive exams preparation & pet training categories.
The company is further targeting to on-board around 16,000 more gurus (tutors) by end of this year. With improved technology, Qriyo is also expecting to automate part of its support and cut Teacher Match Time to half in next 6 months.
Speaking of funding, Neelesh Bhatnagar of NB Ventures said,
Qriyo is a lifestyle business, I can see huge demand for their services. Qriyo team is working towards creating an automated ecosystem for delivering quality learning services at home. It has been 1 year since I am associated with the team as a mentor. I look forward to helping them expand to the Middle East at the right time. Qriyo’s growth journey has been fascinating so far.
Qriyo is an app-based platform which provides home tutors for over 300+ courses. The startup provides an end to end delivery, tracking and progress report for all the courses taught by Home Tutors or Qriyo Guru. The courses ranges from Academics to Yoga, Dance & Music to Fitness.
The startup was founded in 2015 by Mudit Jain and Rishabh Jain. Qriyo positioned itself as end to end Home Tutor Provider platform. It combines the power of technology with real human services to deliver best possible learning, says the company.
The venture currently has 8000+ tutors in Jaipur, Jodhpur, Udaipur and Ahmedabad. They have 2500+ customers with 50,000+ hours of teaching delivered via their platform.
Earlier, in January last year, the company had received seed funding of $160,000 from UAE based Idein Ventures, led by Ashwin Srivastava. The company earns majority of its revenue via tutor commission.
Rishabh Jain, co-founder and COO of the startup, said,
We are already profitable in 2 cities and we will achieve companywide operational break even overall without impacting the growth. 30% MoM growth will continue in terms of sales & guru on boarding for next 6 to 9 months.
With new funding coming in, Qriyo now aims to use the fund to strengthen its tech and operations. The company says that they are also planning for an expansion in UAE and are currently at negotiation stage.