Testbook.com grows 8x in enrolment, 4x revenue in 9 months
Testbook.com, the edtech platform that aims at turning India’s examination preparation landscape for public sector jobs into a tech-driven, automated system where students can learn at their own pace, have witnessed 8 times growth in live course enrolment and hockey stick growth in active paid subscribers which increased to 8 lakh from 4.9 lakh, after the pandemic hit from April 2020 to December 2020. It has increased its monthly revenue by 4 times and is clocking an annual revenue rate of Rs 50 crore with more than 3.8 lakh transactions during the past four months.
The platform offers more than 250 online courses and more than 13,000 mock tests to prepare for more than 250 jobs in the public and private sectors. More than 20,000 new learners from across the country are joining the platform that facilitates complete learning and assessment with live-coaching on-a-daily-basis. Testbook.com has hired 275 more members to its team during Apr-Dec 2020 to meet the increasing demand from users.
The start-up has gone multilingual in content delivery and has doubled its team during the pandemic due to increased demand. It has built its technology to ensure uninterrupted streaming of live video lectures at 1/10th of data consumption. As a result, its video watch duration has gone up by 65% and is currently clocking close to 100 million minutes in a month. Testbook provides paid subscriptions that allow a one-stop learning platform to prepare for jobs along with regular studies.
Says Ashutosh Kumar, Founder and CEO of testbook.com, “Government job preparation got hit big time when the lockdown was announced and all government examinations were cancelled post COVID outbreak. Our revenues were also hit but we could make a V-shaped bounce with a one-stop platform that facilitates 360o learning for students with live coaching, online courses, mock tests, and doubt-solving support. Testbook App has Google play rating of 4.6 currently which is the highest among edtech apps, it has 10 lakh installations per month and a total of 1.8 crore installations till date.”
Testbook.com provides students with free and unlimited access to more than 8000 video lectures, 50,000 questions, and 500 mock tests to learn and practice at any given point of time. In order to cater to the students in smaller towns, Testbook.com has created Testbook PASS which a unique code-based offline voucher that provides subscription-based access for students based in smaller towns to 250+ Online Courses and 13000+ mock Tests at a much affordable price. The students can access offline vouchers through a distribution network of more than 250 channel partners in more than 60 towns.
There are reading assignments, practice questions, and periodical tests tactically integrated with the courses to achieve effective learning pedagogy. Comparative performance analytics provide a compelling study orientation for students.
Testbook.com has received Series B funding of $8.3M from Matrix Partners, Iron Pillar, AngelList India, and Better Capital in January 2020. S.Chand publishers and Utsav Somani of AngelList had invested in the early years of incorporation.