YourNextLeap.com has announced that it received “Series A” venture capital funding from Nirvana Venture Advisors. The details of the investment including the amount raised and equity diluted remain confidential. The Pune based Internet product company is founded by Suruchi Wagh in October 2010.
YourNextLeap.com is a recommendation engine that acts as a virtual career counselor to help students make smarter career decisions. It involves a suite of online tools, which use psychometric evaluations and math models on past admission patterns, to give out personalized suggestions. Tools such as University Suggestor and College Suggestor help students enhance their chances of admissions into Colleges, and Branch Suggestor assist students choose streams of study.
YourNextLeap.com has a freemium business model with an ARPPU of Rs. 500.
Mohit Gundecha, formerly the Head of India Operations for mig33, joins the company as the Co-founder and CEO. With the funding, Amit Patni, from the Patni Family and Rajan Mehra, formerly the Country Head for eBay in India, join the Board of Directors of YourNextLeap.com. Nickhil Jakatdar, CEO of VuClip and Alok Kejriwal, CEO of Games2Win are on the Advisory board of the Company.
On the investments, Suruchi Wagh, Founder and COO of the company said, “Several million students in India make uninformed career decisions based on anecdotal information and social pressure. YourNextLeap.com’s virtual career counselor has already helped several thousand students make better career decisions on colleges and streams of study. The investments are an opportunity for us to scale up our web infrastructure and grow our team.”
The company plans to use the investment to scale up its operations in India and for expanding the team.