Bangalore-headquartered Linkstreet Learning Pvt Ltd, a cloud startup that offers video-based learning and collaboration solutions to individuals and organisations, has secured an undisclosed sum in its Series A round of funding from Faering Capital, a boutique asset management firm. The startup will use the funds for product and business development, as it aims to quadruple its client base and double revenues over the next 12 months, it said in a press release.
As per the deal, Aditya Parekh and Sameer Shroff, co-founders and managing directors of Faering Capital, have joined the Linkstreet board. Ganesh Lakshminarayanan, managing director of Big Data firm Mu Sigma, has also joined the Linkstreet board.
The startup was founded in 2011 by Arun Muthukumar and Vikram Ramakrishnan. Prior to starting Linkstreet, Muthukumar worked at Cisco for eight years where he helped develop learning solutions for global customers and also in optical networking. In the past, he had worked in companies, including AT&T, Lucent Technologies. He holds an MS degree from the University of Kentucky (the US).
Ramakrishnan has eight years of management consulting experience at Booz & Company in London. Earlier, he had co-founded Thinking Palm, an education services enterprise that provides career guidance and skill development programmes. He holds an MBA degree from INSEAD.
Linkstreet offers an online platform to organisations and individuals to connect across distances to share knowledge and learn. The company claims that its integrated cloud-based solution has independent modules that enable the full cycle (create, store, manage, deliver and monetise) to institutionalise learning.
Linkstreet's clients include IIM Bangalore, Indian School of Business (Hyderabad), Children's Heartlink (US), MIOT Hospitals, Indo-British Health Initiative, Columbia Asia, Teleradiology Solutions and Takshashila Institution.
"Organisations across sectors and from around the world are leveraging the Linkstreet platform to ensure learning and collaboration can be made easy and effective. More than 90 per cent of our clients have migrated to the subscription model on account of the substantive difference our platform has made to their business," said Ramakrishnan.
"Having the expertise and guidance of Aditya, Sameer and Ganesh to bank on is a huge bonus for us and will strengthen our prospects as we build Linkstreet into the go-to platform for learning and collaboration for organisations of every size and scale, globally," said Muthukumar.
Faering Capital is a boutique Indian asset management firm. The firm currently manages a Rs 865 crore domestic PE fund, called Faering Capital India Evolving Fund, which has made five investments in 2014 and 12 investments in total so far. Its previous investments include RBL Bank, Gokaldas Intimatewear, Biba Apparels, Manipal Health Enterprise, TranServ, Snowman Logistics, City Union Bank, NSE, Mahindra Financial Services, KOOH Sports and Avantha Power.
"The impact of video learning is powerful, and therefore its potential as a service presents significant disruptive opportunities. Linkstreet has already built a robust and scalable product that client organisations have come to trust," said Parekh of Faering Capital.
"Learning is personalised, gamified and consumed, as entertainment is the best way for corporations to train their field force. Linkstreet is pioneering this model with its platform," said Mu Sigma's Lakshminarayanan.
(Edited by Joby Puthuparampil Johnson)