Mumbai, India - April 3, 2017: Matrix Partners India announced today that it has invested in Testbook, an ed-tech startup. Founded by a team of IIT graduates, Testbook is an online learning platform enabling students to prepare for recruitment exams for Government jobs such as SBI PO, SSC CGL, IBPS PO, Railways and many more. Government jobs exam preparation is one of the largest education markets in India with over 40 million students appearing every year for such exams.
Students can purchase mock tests from the Testbook website, Android app or through offline Testbook Test Centers and Smart Labs in select cities. Testbook offers personalized guidance and detailed solutions for all questions along with All India Ranking for select mock exams. Students can also remain abreast with current affairs in Hindi or English through Testbook’s Daily Current Affairs app that has been downloaded by over 2 million students already and is one of the highest rated education apps in India. A free Testbook test series is also bundled with the new book titled Quantitative Aptitude for Competitive Exams written by renowned author R.S. Aggarwal and published by S.Chand and Company, an investor in Testbook.
Ashutosh Kumar, Founder and CEO of Testbook, said, “We are on a mission to reshape the process of how students prepare for competitive exams. Our endeavor is to deliver world class, personalized learning content for students while solving the problem of access and affordability for the masses. We decided to partner with Matrix as we believe they share our vision and we look forward to a long-term partnership with them”.
“We are excited to partner with the Testbook team in their mission to disrupt the competitive exam preparation market. Ashutosh and team have several unique insights on how to succeed in this market and we especially like the quality of their content, technology thinking and unique go-to-market strategy. Ed-tech is a focus area for Matrix and we will make multiple investments in the space” said Rajat Agarwal, Vice President, Matrix India.
Testbook is a one-stop personalized learning platform for students appearing for recruitment exams for Government jobs. Testbook leverages technology to make exam preparation more efficient, accessible and affordable. It provides mock tests for SBI PO, SSC CGL, IBPS PO, IBPS Clerk, LIC AAO, and Railways, among other aptitude preparation. Testbook’s content can be accessed through their website, mobile apps or offline test centers in select cities. Further information is available at www.testbook.com
About Matrix Partners India:
Matrix Partners India is an investment firm with INR 4,500 crore under management. The firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. The firm has invested in several market leading companies in the consumer technology space including Ola (local transportation), Quikr (online classifieds), Practo (digital health platform), Dailyhunt (mobile local language platform), Mswipe (mobile POS), Limeroad (mobile social commerce marketplace) and Treebo (digital hotel chain) among others. Matrix Partners has a global network of funds investing in the US, China and India with US $4 billion under management. Further information is available at www.matrixpartners.in