Knorish, a platform that enables coaches, instructors, and organizations to build and launch online academies, announced today that it has raised $1.1 million as an extension of the Pre-Series A round.
The investment was led by Inflection Point Ventures and also had Pentathlon Ventures, Rockstud Capital and Bespoke HNIs including KRS Jamwal, Dhanpal Jhaveri and Prophetic Ventures syndicate.
The latest round comes on the heels of a $323,000 round last June and the 100x.vc investment as a part of their funded class 01 of 2019.
The fresh infusion of funds would help Knorish in accelerating innovations that would empower Passion Entrepreneurs across the world to take their knowledge businesses online. Additionally, the company aims to bring one of the finest app creation technologies for online academies, expand their team and further empower a network of Academies on Knorish.
Speaking on the acquired funding, Kinner N Sacchdev, Co-founder and CEO, Knorish, said, “The Coaches and instructors are good at teaching, but they struggle to sell. With Knorish’s Funnel builder, over 90 percent of content sellers are able to cross $1000 within the first few months of launching their first funnel. ”
Speaking on the funding, Mitesh Shah, Co-Founder, Inflection Point Ventures said,“Knorish’s platform is built to help lakhs of original content creators like trainers, teachers, coaches etc. to expand their market catchment area. We found this to be a big differentiator as they are attempting to unlock a new market segment which is otherwise unorganised and bringing them on a tech enabled platform. The pandemic, no doubt, has made it difficult for certain solopreneurs to attract business. That is also because they have largely remained offline. With Knorish, they have the opportunity to reach a large audience and share their knowledge with the world. The whole approach around which the business is built got us interested to invest in the business.”
“This platform is democratizing online teaching by helping tutors and coaches build, launch, and sell courses. Their early traction, the quality of content creators on their platform, and strong founding team suggest they possess the DNA of Scale. We strongly feel they're poised to become leaders in this space.” Madhukar Bhatia, Managing Partner, Pentathlon Ventures added.
Abhishek Agarwal, Managing Partner of Rockstud Capital, said, “Post-COVID, it is no longer just an option but a necessity, for anyone looking to build courses and reach out to its target segment, to be present online and be able to have the right tools to scale.”
Online learning continues to be a dominant need in 2021. With online courses, becoming the norm for learning across all age groups in the last 5 years, COVID-19 accelerated this demand tenfold. As per the recent GSV Asset Management report and International Labour Organization, UNESCO, digital education is now expected to skyrocket to $1 trillion globally by 2027.