NEW DELHI, Jan. 11, 2016 /PRNewswire/ -- Flex Class (www.flexclass.org) has raised $2.5M or ₹16.70 crore at a $60M or ₹402 crore pre-money valuation to take on the expansion of online education providers like Udacity and Udemy in India, CEO Tarun Saxena confirmed the development.
Flex Class targets to compete with the well funded online education providers in India by providing skill building courses like English Speaking, Accounts Management etc. for a fee not more than $30 or ₹2010 per course which will be refunded in full by the sponsors, who are the registered employers on the Flex Class platform.
Virtually, all courses will be free for the students. None of the Flex Class competitors have similar business model in force and are much more expensive.
Flex Class aims to enroll 270,000 students in 2016 and will expand into Africa, Philippines and Thailand by 2018.
"Our platform is very unique, a student pays his fee at the beginning of the course and the sponsor who is the employer himself refunds the fee at the end of the course and immediately offers a job or a paid internship. A student can either accept or politely deny the opportunity without any liability. In today's world it's not the degree but the skill, which sells," said Ravi Mohan, President, Business Development.
In December last year, Flex Class raised commitments worth US $10 million or ₹67 crore from several employers in India under the corporate social responsibility (CSR) commitment which makes Flex Class well prepared to serve over 300,000 students. The employers will directly invest in the education of their potential employees.
Flex Class aims to introduce 50 new courses every year, which can add direct value to a student's resume.
Flex Class has a mission to add flexibility to the monotonous education routine and to reduce the time and cost for traveling. The concept of a sponsor helps a student to reach out to the employers directly and reduce the time required for job hunting.
Flex Class was started in August 2015 and raised $500,000 from a clutch of undisclosed top professionals from the finance and banking industry.
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