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Disprz raises $13 mn from Dallas Venture Capital, others

Disprz raises $13 mn from Dallas Venture Capital, others

Funding News

Disprz raises $13 mn from Dallas Venture Capital, others

Enterprise skilling startup Disprz on Thursday said it has raised USD 13 million (about Rs 96.4 crore) in funding, led by Dallas Venture Capital and Mars Growth Capital. The Series-B round also saw participation from existing investors – Go1, Tara India Fund IV being managed by KOIS, Auctus Capital (Family office of Vikas Phadnis, Co-Founder of Eurokids) and Kae Capital, a statement said.

Disprz will use this investment further to scale up product and engineering teams, establish a sales and marketing division in the US, expand its existing presence in South East Asia and Middle East markets, and invest in building industry-specific product solutions, it added. Founded in 2015 by Subramanian Viswanathan and Kuljit Chadha, Disprz is an AI-powered learning and skilling suite that empowers companies to right-skill their workforce to win in a digital-first world. The company now serves over 1.2 million users.

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“We are excited to welcome Dallas Venture Capital into the mission of Disprz. DVC’s founding teams are former founders who have scaled and exited start-ups and their understanding of the SaaS space, coupled with their strong network in the US, make them a perfect partner for Disprz, as we look to establish ourselves in developed markets, particularly the US, Disprz CEO Subramanian Viswanathan said.

With over 225 employees and over 200 customers, including Wellness Forever, More Retail, Times Internet, Motilal Oswal Financial Services, Godrej Storage Solutions, Hindustan Coca Cola Beverages, KBZ MS General Insurance, Oman Oil, AIA Group and others. We are going deep into sectors such as banking, insurance, fin-tech, e-commerce and high-tech, where we have now developed deep expertise on skill recognition, skill measurement and skill impact. We aim to strengthen the efficient backbone of the brands that touch our daily lives.

We already do this in India and emerging APACs and we expect to replicate this in major global economies,” Disprz co-founder and COO Kuljit Chadha said. Disprz said it has consistently doubled in revenue year-on-year, and calendar year 2021 has seen them grow by 150 per cent. By 2025, the startup aims to achieve the vision of reaching a topline of USD 100 million across the globe. Unitus Capital acted as the financial advisor to the company for this transaction.

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