Centum Learning Raises Rs. 40 Crores from Mayfield India Fund

 | June 23,2010 05:05 pm IST

Centum Learning (a Bharti associate company) today announced that Mayfield India Fund has made an investment of Rs. 40 crores in Centum Learning Ltd.

Centum Learning, a leading player in the higher education domain has set up more than 130 learning centers in 90 cities across India to make a significant contribution in bridging the existing gap between academia and industry requirements.

 

It has now launched another initiative - Centum U - Institute of Management & Creative Studies, which offers various undergraduate and postgraduate programmes in association with world-renowned institutions in New Delhi, Mumbai, Pune, Mohali and Hyderabad. Besides, Centum Learning is actively engaged with the State Governments to develop globally deployable skilled manpower and enhance employability quotient of both urban and rural youth.

 

Centum Learning has recently received the coveted Gold Award for "Excellence in Training" at the World HRD Congress, 2010 and figures in the ‘Top 16 Training Outsourcing Watchlist 2010.’

Announcing the development, Mr. Rakesh Bharti Mittal, Chairman, Centum Learning said, “India’s fast growing economy needs quality manpower to take forward its success story. The education, training & development segment has immense growth potential in India and Centum Learning is well positioned to unlock this potential. This investment from Mayfield is an endorsement of the company’s vision and we are delighted to have them as a strategic partner.”

 

This new investment reflects Mayfield India Fund’s investment theme of adding value to growth stage companies in the consumer sector. MF Advisors Managing Director, Vikram Godse would be joining Centum Learning’s board of directors. Speaking on the investments, Mr. Godse, said “The education in India is going through a transformation in the way higher education and skills development is being implemented. Centum Learning is at the centre of this change. We are excited by the company and its founders bold vision to build India’s foremost education and skills company. Given their proven track record of execution, we believe this is a tremendous opportunity”.

 

Commenting on this partnership, Mr. Sanjeev Duggal, CEO & Executive Director, Centum Learning said, “It gives me great pleasure to partner with Mayfield India, which has many success stories behind it. This partnership will help us embark upon an enhanced growth trajectory in this vastly under-supplied education and professional skills sector. We believe that meaningful education and skill enhancement of youth would truly transform the socio-economic landscape of our country and we have sufficient business acumen, knowledge and experience to achieve scale with standards in this domain.”

 

Concluded.
 

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