India skills training player Disprz raises $30m Series C
Indian enterprise learning and upskilling start-up Disprz has raised a USD 30m Series C round featuring US-based Lumos Capital, a specialist in the education and workforce segments.
Lumos led the round alongside India’s 360 One, formerly IIFL Wealth Management. They were joined by local seed investor Kae Capital and Kois Invest of Belgium, as well as US-based investor Dallas Venture Capital.
It follows a USD 13m round in 2021 featuring Kae, Kois, Dallas, Mars Growth Capital, Auctus Capital Partners, and Australian workforce training company Go1. Previous investors also include Silverneedle Ventures, Innoven Capital, and IL&FS Investment Managers.
Disprz said it aims to revolutionise learning and skills development in Southeast Asia, India, and the Middle East while breaking into the US. It claims to use a business and data-driven people development approach that helps businesses achieve tangible outcomes through talent management for knowledge workers and performance improvement for frontline workers.
The company has accumulated 2.8m users since its inception in 2015 with clients including the likes of ICICI Bank, Amazon, IndianOil, Swiggy, Petronas, AIA, Axiata, RHB Bank, Yoma Bank, Sinar Mas, Starbucks, and Malayan Insurance.
“With the world ready to be disrupted by generative AI [artificial intelligence] and organisations increasingly realising that upskilling and reskilling are not the mandate of just HR but every function, Disprz is ready to shape the industry and steer towards becoming India's first centaur [company with USD 100m annual recurring revenue] in this category in the next four to five years,” CEO Subbu Viswanathan said in a statement.
The Series C capital will be applied to a Southeast Asia expansion, including plans to hire product developers, data scientists, software engineers, and “skilling scientists.” There will also be investments in generative AI. The Philippines, Indonesia, Malaysia, and Thailand are priority markets.
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