Hyderabad-based skill development and training company TalentSprint Educational Services Pvt Ltd has raised Rs 20 crore ($4 million) in series A funding from Nexus Venture Partners. As part of the investment, Nexus Ventures’ MD Anup Gupta will join the company’s board.
Set up in 2009 by Madhumurty Ronanki, Santanu Paul, and JA Chowdary, TalentSprint offers employability programmes to professionals, using experiential learning and iPEARL, its technology platform for the IT and BFSI sectors. The learning programmes are delivered to students, job-seekers and young professionals to make them job-ready.
(Via TalentSprint Raises $4M In Series A From Nexus Venture Partners | VCCircle)
More news on the coaching-class markets
Private equity interest in India’s bustling education sector only continues to grow. And this time, Kota-based Resonance Eduventures Pvt Ltd, a test preparation company offering coaching for IIT-JEE and other engineering entrance exams, is raising Rs 100 crore ($22 million) from CLSA Capital Partners, two persons with direct knowledge of the development told VCCircle.
While this may otherwise seem to be another deal in the busy ‘education’ market, it is interesting to note the valuation that Resonance Eduventures Ltd got, for this deal.
The deal which attracted the interest of about 10-12 players, fetched a significant premium to its publicly listed peer, Career Point Infosystems Ltd. Career Point, which has a market capitalisation of Rs 603 crore, is trading 15.4x its trailing PBT for FY11. According to VCCedge, the financial research platform of VCCircle, Resonance Eduventures had PBT of Rs 20 crore for the year ended March, 2010. This means Resonance is being valued over 40x its one-year-old PBT. Its latest financial numbers are not available yet. Resonance apparently commanded a higher valuation multiple in spite of having comparatively lower net profit margin (comparing Resonance’s FY10 with Career Point’s FY11 numbers).
(Via CLSA Capital Close To Putting Rs 100Cr In Resonance Coaching | VCCircle)