Mumbai based Edtech has startup Testbook on Wednesday and has raised Rs 60 crore in a Series B funding round from Iron Pillar, a venture investor specializing in mid-stage technology companies in India. The round also saw a participation from existing investor Matrix Partner India as well as Better Capital, AngelList India, and Vikas Choudhury, president of Reliance Jio. Testbook helps students from tier II cities and beyond prepare for government job recruitment exam, founded in 2014 by IIT graduates team. The company said the new capital will be used to scale its live courses and mock tests from the current 100 exams to 400 and build content partnerships with other institutions, on top of the in-house content production capability.
Testbook said that it has 10 million registered users and 500,000 active paid subscribers, and has produced more than 35,000 selections across different government jobs in the last three years. All modules are designed using technology and nearly 40,000 free questions, 3,000 mock tests and 70 courses are available on the platform at all times.
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