Delhi, May 11th, 2011: iProf Learning Solutions India Pvt., Ltd. today announced an investment by Kaplan Ventures and a distribution partnership with Kaplan Test Prep to enable the iProf platform to offer test preparation in GMAT® and GRE®, two exams required for admissions to most competitive U.S. business or graduate schools, for the first time.
iProf is India’s first and largest e-learning superstore for IIT, CAT, PMT and other high-stakes tests on tablet computers. Adding the GMAT®and GRE® exams will expand access to these study courses for Indian students across the country.
Announcing the partnership Sanjay Purohit, Founder & CEO, iProf, said: “It gives me immense pleasure to associate with Kaplan, the world leader in test preparation. From today onwards a student living in Patiala or Patna will have equal opportunity to prepare for admissions into Harvard or Stanford as one living in Mumbai or Manhattan. The iProf platform combined with Kaplan’s content will make it possible for a student who cannot attend a classroom course to prepare for these high-stakes admissions exams to make his or her dream come true. Kaplan has transformed the test preparation in U.S. over the last 70 years and with this partnership we aim to replicate the same success story in India.”
Commenting on the investment and partnership Jason Palmer, Senior Vice President, Kaplan Ventures said, “Kaplan is excited to expand our operations in India through the iProf partnership. As a country, India provides the second largest number of international students to U.S. universities, and more Indian universities are now accepting the GMAT and GRE as well. Working with iProf will enable us to provide high-quality interactive courses to students in large cities and rural areas even when they don’t have a personal computer or broadband access. Together, Kaplan and iProf can bring a new level of innovation to India’s students and help them pursue their university dreams.”
Kaplan’s investment in iProf follows recent investments from Norwest Venture Partners (NVP) and IDG Ventures India (IDGVI). Together with Kaplan, investors have provided iProf with a total Rs. 27 crore (US $6.0 million) over the past few months. According to Sanjay Purohit, “These investments are being used to expand iProf nationwide. With Kaplan as an investor and partner, our franchisees will have more courses to sell without hiring any additional faculty, making their operations even more profitable.”
iProf has created an innovative e-learning marketplace by which a large number of courses can be provided at an affordable price to millions of students worldwide. The solution is particularly valuable to those students who do not already have a computer or internet access. Founded in 2009 and headquartered in Delhi-NCR region, iProf offers India’s first personal education tablet, which delivers study material in multiple formats such as audio-video lectures, animations, structured tests, solutions, performance analysis and more. iProf also operates iStudy Zones, study centres across India, where students can purchase tablets, download the latest course material and obtain course updates. iProf’s groundbreaking solution enables centres to deliver e-learning courses via video and audio from esteemed faculty in India within the safety of students’ homes or in nearby iStudy Zones. iProf is venture-backed by blue-chip investment firms IDG Ventures India, Norwest Venture Partners, and Kaplan Ventures. For more information visit www.iprofindia.com
Kaplan, Inc. (www.kaplan.com) is a leading international provider of educational and career services for individuals, schools and businesses. Kaplan serves students of all ages through a wide array of offerings including higher education, test preparation, professional training and programs for kids and schools with operations in more than 30 countries. Kaplan is a subsidiary of The Washington Post Company (NYSE:WPO) and its largest and fastest-growing division.
Kaplan Test Prep (www.kaptest.com), a division of Kaplan, Inc., is a premier provider of educational and career services for individuals, schools and businesses. Established in 1938, Kaplan is the world leader in the test prep industry. With a comprehensive menu of online offerings and a complete array of books, Kaplan offers preparation for more than 90 standardized tests, including entrance exams for secondary school, college and graduate school, as well as English language and professional licensing exams. Kaplan also provides private tutoring and graduate admissions consulting services.
Kaplan Ventures (www.kaplanventures.com) is a division of Kaplan, Inc., that invests in, develops, and grows innovative companies at the intersection of education, technology and compliance. The company’s portfolio includes high-growth businesses that offer an expanding array of specialized education programs, technologies, and services that complement Kaplan’s core businesses.