iProf Learning Solutions Raises US$9 Million from Hobsons, IDG Ventures India and Norwest Venture Partners (Asia)
Source: Hobsons, Economic Times | Author: Biswarup Gooptu
Hobsons, an education subsidiary of the Daily Mail and General Trust, has led a US$9 million Series B financing round in India-based learning management and test preparation provider iProf Learning Solutions. Existing investors, venture capital firms IDG Ventures India and Norwest Venture Partners, also participated in the round. In 2011, iProf raised INR220 million (approximately US$3.6 million) from IDG Ventures India and Norwest Venture Partners. The company intends to use the fresh capital to finance acquisitions, expand its network and consolidate its market position.