Upskilling startup Disprz, on August 7, said that it has raised $30 million in its series C funding round led by Lumos Capital Group and 360 ONE Asset (IIFL), at a time when competition in the segment is spiking with newer players entering the market.
In a statement, the company said that the funds raised in the round, which also witnessed participation from Kae Capital, KOIS and Dallas Venture Capital, will be used for global market expansion and product development, including the integration of Generative AI across the learning and skilling cycle.
“With the world ready to be disrupted by generative AI and with organisations increasingly realising that upskilling and reskilling are not the mandate of just HR but every function, we are ready to steer towards becoming India's first centaur (profitable $100 million company) in our platform category in the next 4-5 years,” said Subramanian Viswanathan, co-founder and CEO of Disprz.
Founded in 2015 by Viswanathan and Kuljit Chadha, Disprz is an enterprise SaaS learning & skilling platform. The company said it has established its presence in every continent serving nearly 350 organisations, and 2.8 million users.
The company said it now plans to deepen its presence in emerging markets where it already operates, including India, The Middle East and Southeast Asia. Disprz also aims to expand into the US market.
“We will further cultivate strong partnerships and build an extensive ecosystem of content, assessments, resellers, and consulting partners globally to meet the unique talent advancement needs of every organisation,” said Chadha, who is the COO of the company.
The funding, Disprz said, will also fuel investment into innovation powered by Generative AI and cognitive sciences, enabling personalised content creation, content discovery, and skills intelligence and helping organisations make the shift to skill-based talent management.
Disprz will also use the funds to expand its global team, hire data scientists, and skill scientists, and software engineers.
“Disprz provides the rare combination of breadth in product with their Learning Management System, Learning Experience Platform, and Frontline Enablement offerings, to meet a spectrum of customer needs and also a depth of product quality to ensure it's serving customers with the highest level of product innovation. Disprz is uniquely positioned in the large corporate learning segment, having demonstrated leadership in markets in Asia and the Middle East with a multifaceted quality product that can compete globally,” said Rohan Wadhwa, managing director of Lumos Capital Group.
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