Knorish, a platform that enables coaches, instructors, and organizations to build and launch online academies, announced today that it has raised $1.1 million as an extension of the Pre-Series A round. The investment was led by Inflection Point Ventures and also had Pentathlon Ventures, Rockstud Capital and Bespoke HNIs including KRS Jamwal, Dhanpal Jhaveri and Prophetic Ventures syndicate. The latest round comes on the heels of a $323,000 round last June and the 100x.vc investment as a part of their funded class 01 of 2019.
The fresh infusion of funds would help Knorish in accelerating innovations that would empower Passion Entrepreneurs across the world to take their knowledge businesses online. Additionally, the company aims to bring one of the finest app creation technologies for online academies, expand their team and further empower a network of Academies on Knorish.
Speaking on the acquired funding, Kinner N Sacchdev, Co-founder and CEO, Knorish, said,“The Coaches and instructors are good at teaching, but they struggle to sell. With Knorish’s Funnel builder, over 90% of content sellers are able to cross $1000 within the first few months of launching their first funnel. ”
Knorish already boasts of offering several unique features that help it stand out such as the Free Zoom enterprise account access for every paid subscriber for conducting live sessions, launch sales funnels, and automation that enable you to single-handedly manage and grow the online academy. The platform also offers features such as a powerful website – landing page builder tool, a course builder, pre-integrated payment gateways to automate payment collection, along with many other tools to quickly launch online academies and businesses.
Speaking on the funding, Mitesh Shah, Co-Founder, Inflection Point Ventures said,“Knorish’s platform is built to help lakhs of original content creators like trainers, teachers, coaches etc. to expand their market catchment area. We found this to be a big differentiator as they are attempting to unlock a new market segment which is otherwise unorganised and bringing them on a tech enabled platform. The pandemic, no doubt, has made it difficult for certain solopreneurs to attract business. That is also because they have largely remained offline. With Knorish, they have the opportunity to reach a large audience and share their knowledge with the world. The whole approach around which the business is built got us interested to invest in the business.”
“This platform is democratizing online teaching by helping tutors and coaches build, launch, and sell courses. Their early traction, the quality of content creators on their platform, and strong founding team suggest they possess the DNA of Scale. We strongly feel they’re poised to become leaders in this space.” Madhukar Bhatia, Managing Partner, Pentathlon Ventures added.
Also speaking on the funding, Abhishek Agarwal, Managing Partner of Rockstud Capital, said, “Post-COVID, it is no longer just an option but a necessity, for anyone looking to build courses and reach out to its target segment, to be present online and be able to have the right tools to scale. Knorish has created a platform which not only helps in building one’s course online but also be able to sell it to its target audience and have all the analytics to review performance.”
Online learning continues to be a dominant need in 2021. With online courses, becoming the norm for learning across all age groups in the last 5 years, Covid-19 accelerated this demand tenfold. As per the recent GSV Asset Management report and International Labour Organization, UNESCO, digital education is now expected to skyrocket to $1 trillion globally by 2027.
Thus, the investment will enable Knorish to forge ahead and create the world’s most advanced stack for building sales funnels and automations for Online Academies. In less than a year, the platform already supports over 22000 academies across 200 domains and half a million monthly active users buying courses from over 37 countries