B2B edtech platform AntWalk has raised $7.5 million in a Series A investment round led by GSV Ventures. The round also saw participation from Y Combinator and existing investor Matrix Partners India.
The new fund will be used to strengthen its Learning Experience Platform (LXP) using gamification, research and development, and expand the sales and marketing team to widen the customer base, said the Bengaluru-based company in a statement on July 6.
Founded in the year 2019, AntWalk is an employee upskilling platform started by ex-bankers and former educators Joybroto Ganguly, Basav Nagur, Sriramkumar Sundararaman, Sumit Gupta, and Sudhanshu Shekhar.
Gupta said the company helps individuals and companies to achieve business goals by acquiring "the right skills at the right time from the right pool of global experts".
“The name ‘AntWalk’ is inspired by the way ants communicate and share intelligence with each other when they walk, reflecting the act of ‘collaborative social learning'," added Ganguly, who is also the Chief Executive Officer.
According to the startup, the enterprise learning and development (L&D) industry is expected to touch the $402 billion mark by 2025.
"But the current L&D model is broken, siloed, and does not put professionals’ role readiness at the center of learning interventions," said the company in the statement.
Sriramkumar Sundararaman, co-founder and COO of AntWalk, said that learning could happen in many different ways. He added, "While an entry-level sales associate would need a mix of self-paced content and 1:1 mock sessions to become better, a senior leader would need 1:1 coaching and live cohort sessions to learn with peers."
He said AntWalk offers courses designed to cater to the nuances of employees’ needs based on the function and role they are in.
AntWalk said the company aims at “Role focused Capability Academies'' which means a combination of industry-relevant content delivered by over 4,000 global professionals through live group sessions, one on one coaching, and gamified content.Earlier in April 2021, AntWalk had over a million dollars in its seed funding round led by Matrix Partners India. Better Capital founder Vaibhav Domkundwar and CRED founder Kunal Shah also participated in the round.