Enterprise skilling firm Disprz raised $30 M Series C funding from 360 ONE Asset, Lumos Capital
The Series C funding round for the enterprise skilling platform Disprz, which was co-led by 360 ONE Asset and Lumos Capital, raised $30 million. The round, which consists of primary and secondary transactions, also included participation from current investors Kae Capital, KOIS, and Dallas Venture Capital.
A bridge round from Silverneedle Ventures and other investors in January of this year included an undisclosed sum, bringing the startup’s total funding to around $50 million.
According to a press release from Disprz, the additional funds will be used for international growth, product development, and investments in generative AI technologies. It also has the objective of establishing strategic alliances and acquisitions.
By facilitating career mobility, enabling on-the-job skill development, and accelerating job readiness, eight-year-old Disprz aids organizations in creating a steady pipeline of fully equipped workers. According to the company, 2.8 million users from India, Southeast Asia, and the Middle East are served by close to 350 organizations.
Amazon, Indian Oil, Bajaj Allianz, Ather Energy, HDFC Life, Starbucks, AIA, PETRONAS, Sharaf DG, Neom, Rivoli, Kotak Life Insurance, and other businesses are among the clients of Disprz.
The company also intends to collaborate with other players in the learning and people-tech ecosystem, such as those involved in human capital management, rewards platforms for employees, learning content providers, assessment providers, and multinational HR consulting firms.
It is in direct competition with Centum Learning, Corporate Compass, and CUSMAT in the enterprise skilling market.
In FY22, Disprz reported operating income of Rs 34.82 crore and a loss of Rs 19 crore. However, it asserts that it is expanding at a rate of 80–110% at the moment, anticipates maintaining this momentum for the next two years, and aims to turn a profit in the following four to five quarters. The business has not yet submitted its audited financial figures for FY23.
