24×7 Learning secures investment from Capital 18

PRESS RELEASE


24×7 Learning, India’s largest eLearning implementation company today announced a $4 million investment from Capital18, the venture capital and private equity arm of Network18. The investment is recognition of 24X7 Learning’s pre-eminent position in the eLearning space and its robust growth and sustained financial performance. The investment will be funneled into technology innovation, foray into new markets, expansion in solution offerings, talent acquisition and capacity expansion to further consolidate its position in the rapidly growing market.


This partnership between a leading media conglomerate and an eLearning solutions leader signifies a key milestone in the convergence of Learning and Media in India.


24×7 Learning provides comprehensive learning solutions for corporates and institutions. With its deep understanding of and expertise in technology-based training initiatives, it also works closely with higher educational institutes to harness the potential of eLearning for their distance learning programs. 24×7 Learning has set up Virtual Universities across India in Corporates as well as Academia. Taking its leadership into the academic space, 24×7 Learning has launched SkillBridge: an eLearning-based employability enhancement program to bridge the skill gap between Industry and the traditional education system.


24×7 Learning has been awarded the 2006 Red Herring Asia Award and more recently declared a Winner of the Deloitte Technology Fast 50 India 2007. These awards are a testament to 24×7 Learning’s leadership in the eLearning Industry.


Says Karthik KS, CEO, 24×7 Learning, “This partnership is strategic and both companies will leverage upon each other’s strengths and expertise to change the training and education landscape in the country.”


Sarbvir Singh, Managing Director, Capital18 says, “We are very happy to partner with 24×7 Learning. Karthik and Anil are the pioneers in the e-Learning space in India. We look forward to working with them to help build 24X7 Learning’s capabilities in the fast growing e-Learning market.”

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