The Hindu : Business : GlobalScholar.com raises $27 m

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Friday, Mar 07, 2008
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Business

GlobalScholar.com raises $27 m

K. T. Jagannathan

CHENNAI: GlobalScholar.com, a provider of innovative technology in the education market, has raised $27 million in round B funding. The U.S.-based company is founded by Kal Raman, who hails from Tamil Nadu.

The U.S. firm has an Indian subsidiary under the name and style of Knowledge Universe Education Digital Pvt. Ltd. Located at Sterling Tower in Chennai, the facility has 100 people. According to Mr. Raman, the India facility will move to a new location at Guindy here, which can accommodate around 250 seats. “If we solve the problem right, we will grow the headcount to 1,000 plus in Chennai in 2-3 years,” he added.

“We employ 50 teachers and 50 engineers in India. We are feverishly hiring more teachers and engineers,” he said in an e-mail reply. “Currently, we give a platform to the teachers in India to access students in the rest of the world. We will be launching an Indian version of the platform to help Indian students in this summer/fall. We will also provide the platform to schools to manage their curriculum in the U.S. and we will make it available to schools in India. We also want to provide access to high quality education to poor, deserving students through our platform like we do in the U.S.,” he added.

GlobalScholar.com has also announced that it is acquiring Excelsior Software, a leading provider of assessment management solutions for K-12 education.

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