Linkstreet raises Series A investment from Faering Capital
Company aims to transform the learning and collaboration space globally
Bangalore, 12 December 2014
Linkstreet, a leading provider of cloud-based solutions using video for learning and collaboration, today announced the investment of an undisclosed sum in Series A funding in the company by Faering Capital India Evolving Fund.
Linkstreet, whose solutions are used by organizations and individual experts worldwide, will use the new investment in product and business development as it aims to quadruple its client base and double revenues over the next 12 months.
Following the investment Aditya Parekh and Sameer Shroff, co-founders and Managing Directors of Faering Capital, have joined the Linkstreet board. Ganesh Lakshminarayanan, the Managing Director of Mu Sigma, the largest pure play decision sciences company, has also joined the Linkstreet board. Prior to Mu Sigma, Ganesh was President & Managing Director Dell India.
“Linkstreet stands on the cusp of exponential growth and we are delighted with this investment from Faering Capital. Having the expertise and guidance of Aditya, Sameer and Ganesh to bank on is a huge bonus for us and will strengthen our prospects as we build Linkstreet into the ‘go-to’ platform for learning and collaboration for organizations of every size and scale, globally,” said Arun Muthukumar, CEO & Co-founder, Linkstreet.
Aditya Parekh, co-founder and Managing Director of Faering Capital, said: “The impact of video learning is powerful, and therefore its potential as a service presents significant disruptive opportunities. Linkstreet has already built a robust and scalable product that client organizations have come to trust”.
Sameer Shroff, co-founder and Managing Director of Faering Capital said: “Arun and Vikram are dynamic and accomplished entrepreneurs who we believe represent the best team in this space. We have been tracking their progress since inception and believe this is the right time to invest in the company and partner with them in their growth.”
“Learning which is personalized, gamified, and consumed as entertainment is the best way for corporations to train their field force. Linkstreet is pioneering this model with their Linkstreet platform,” said Ganesh Lakshminarayanan, Director, Linkstreet and the Managing Director of Mu Sigma.
“Organizations across sectors and from around the world are leveraging the Linkstreet platform to ensure learning and collaboration can be made easy and effective. More than 90% of our clients have migrated to the subscription – model on account of the substantive difference our platform has made to their business,” said Vikram Ramakrishnan, co-founder & Director, Linkstreet.
Linkstreet clients span the globe from the US to Singapore and include leaders such as Indian Institute of Management – Bangalore, Indian School of Business – Hyderabad, Children’s Heartlink – US, MIOT Hospitals, Indo-British Health Initiative, Columbia Asia, Teleradiology Solutions and Takshashila Institution.
Linkstreet aims to be the “go-to” platform for organizations and individuals to connect seamlessly across distances to share knowledge and learn. Linkstreet’s integrated cloud-based solution has independent modules that enable the full create – store – manage – deliver – monetize cycle to institutionalize learning. The company was established in 2011 by seasoned technology and business professionals Arun Muthukumar and Vikram Ramakrishnan with angel funding from Kushal Kumar after their careers with Cisco, Bell Labs, Booz & Company and Lehman Brothers globally. The co-founders are University of Kentucky, INSEAD and IIM – Ahmedabad alumni.
About Faering Capital:
Faering Capital is a boutique Indian asset management firm founded by Aditya Parekh and Sameer Shroff. The firm currently manages a Rs. 865 crore domestic private equity fund (Faering Capital India Evolving Fund) that aims to capitalize on investment opportunities generated through broad-based consumption-led growth in India by investing in high quality companies and becoming a collaborative partner in their growth journey. Faering Capital has made 5 investments in 2014, and 12 investments in total thus far from this fund. Previous investments include: RBL Bank, Gokaldas Intimatewear, Biba Apparels, Manipal Health Enterprise, Transerv, Snowman Logistics, City Union Bank, NSE, Mahindra Financial Services, KOOH Sports, and Avantha Power.
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