Online education platform WizIQ has raised $4 million in Series B investment. The funding is led by Kaizen, an Indian education-focused private equity fund along with German-based global media business Bertelsmann.
WizIQ, a leading online education platform that offers SaaS based virtual classroom software for teachers, trainers, colleges and universities, high schools, and training and tutoring centers around the world, just announced that it has raised $4 million in Series B investment. The funding is led by Kaizen, India’s first education focused private equity fund along with Bertelsmann, the global media company based in Germany, whose core divisions encompass television, book publishing, magazine publishing and services in some 50 countries.
The investment will bolster WizIQ’s position as a collaborative learning platform for teachers and students.
“Access to quality education has so far been a luxury of the few. WizIQ’s vision is to enable anyone to teach or learn anytime and anyplace. This investment will take WizIQ a step closer to realizing that vision”, said Harman Singh, CEO and Founder, WizIQ. “Building an online network of teachers and students and providing them with the right tools to interact online for meaningful learning is necessary if we are going to make education accessible to everyone. The investment will help WizIQ add resources to build a better platform and infrastructure for online and blended education.
Within a short span of time, WizIQ has been able to help over 2.5 million students learn and over 200,000 teachers teach online in more than 100 countries at a growing annual rate of over 200% revenues.
Winner of the ‘Best Virtual Classroom Provider’ by the World Education Congress, WizIQ is now used for online teaching in colleges like Indian Institute of Technology (IIT) Delhi in India, Atlantic University in Virginia Beach and Des Moines Area Community Colleges in Iowa, USA, while being the virtual classroom software for tutoring companies like StudentNest in California, and TCY Online in India. Educators like Dr Nellie Deutsch are also using WizIQ to run high quality MOOCs. WizIQ is helping its customers create high-quality learning programs while keeping the costs low.
Here’s a short list of WizIQ services:
● Teaching platform that enables teachers to:
■ Run their courses in online or blended format
■ Deliver live online classes via virtual classroom
■ Stay connected with their students anytime and anywhere
■ Give students easy access to rich educational content, notes and other learning resources available in different formats
■ Facilitate highly engaged learning experiences among students
■ Customize for languages such as Arabic and Hebrew (right to left) and other languages like Chinese, Czech, Dutch, English, French, Polish, Russian, Persian, Portuguese, Spanish, Thai and Turkish
■ Experience best-quality audio-video communication
■ Maintain archives of live classes with downloadable recordings
● Multiple device compatible: WizIQ works on any operating system like Windows, Apple and Linux and offers a full fledged application for Android tablets and iPad.
● Open integration: WizIQ Virtual Classroom can be integrated with popular Learning Management Systems and with personal websites through APIs.
As a part of this investment, authorSTREAM, another online platform that PowerPoint users around the world use to share presentation based content, will merge into WizIQ. With 4 million users using authorSTREAM and a lot of them being teachers, trainers and students, this merger will help WizIQ reach out to a much larger audience than it could by itself.
WizIQ.com is an online education platform that offers SaaS based virtual classroom software for teachers, trainers, colleges and universities, high schools, and training and tutoring centers around the world. WizIQ has over 200,000 teachers and 2.5 million learners using the platform in more than 100 countries around the world.
About Kaizen Private Equity
Kaizen Private Equity is India’s first private equity fund focused on India’s $86 billion education sector. Kaizen invests in promising companies with a keen focus on adding significant value post investment. These companies are leaders in the core, parallel and ancillary segments of Education. The Kaizen team consists of entrepreneurial professionals who bring a combination of investment experience, domain knowledge and operations expertise across sectors including the education sector. This team has a passion for building companies that promote modern learning methodologies designed to create tomorrow’s leaders.
Bertelsmann is an international media company, whose core divisions encompass television, book publishing, magazine publishing, and services in some 50 countries. In 2011, the company’s businesses, with their more than 100,000 employees, generated revenues of €15.3 billion. Bertelsmann stands for a combination of creativity and entrepreneurship that empowers the creation of first-rate media, communications, and service offerings to inspire people around the world and to provide innovative solutions for customers.