The corporate sector is growing fast. An increasing number of employees are entering the corporate sector every year, and training this growing number of people is a major task. However, like everything else, the magic touch of technology has affected the corporate training sector as well. Edtech companies are coming up with innovative ways and combined with technologies like artificial intelligence, AR etc, edtech is changing the face of corporate training.
Today be it school education, higher education or corporate training the learners prefer to learn by doing and experimenting rather than just absorbing information and data. To cater to these changing needs of learners in the corporate sector, iAugmentor, a Gurugram based startup has introduced personalized courses for corporate trainees. This is a one of its kind platform that provides personalized mentor for every individual user. Besides the courses are designed keeping in view the learning curve of individual learners and makes the process of learning seamless, effortless, fun and engaging.
| StartupName | iAugmentor |
|---|---|
| Headquarter | Gurugram |
| Founders | Pratik Marwah, Sameer Sikka & Arindam Sen |
| Sector | Edu-Tech, e-learning |
| Founded | 2016 |
| Parent Organization | iAugmentor Labs(P) Ltd |
About iAugmentor
Founders of iAugmentor
How was iAugmentor Started
iAugmentor - Name, Tagline and Logo
What is iAugmentor
iAugmentor - Revenue Model
iAugmentor - Funding and Investors
iAugmentor - User Acquisition
iAugmentor - Startup Challenges
iAugmentor - Competitors
iAugmentor - Awards
iAugmentor - Growth
iAugmentor - FAQs
About iAugmentor
iAugmentor is a revolutionary technology platform, marking a departure from traditional learning methodologies, which aims to augment the skills of an individual through continuously assessing the learners' progress and suggesting a learning road map accordingly. The company designed a first-of-its-kind learning platform giving access to a personalized mentor to every individual who desires to learn/ to augment (increase/enhance) his/her skill sets to achieve his potential. iAugmentor is currently dealing in the corporate training sector.
iAugmentor envisions to revolutionize the teaching and learning system by providing technology-enabled, discovery-based and sector-specific learning experiences.
The Ed-Tech space is booming with more and more Investors and users showing interest. The training industry in India itself is in Billions and most of the companies are opting for technology solutions to cut costs and get efficiency or Return of Investment on their spends.
iAugmentor Founders
iAugmentor was founded by Pratik Marwah, Sameer Sikka and Arindam Sen.
Pratik Marwah is the youngest business face of iAugmentor. He has been into Institutional Sales and started his career from a start-up in 2010 selling subscription to Colleges & Universities across India. He has worked in various roles in companies like CoCubes.com, Monster.com and CommSure Knowledge Solutions.
Pratik is responsible for Business Development, Marketing & Finance for iAugmentor.
Sameer Sikka is a veteran in the corporate training industry. He brings on board an experience of almost 20 years working with the foremost brands in India and abroad. iAugmentor’s learning and content are developed under his supervision. Sameer works with the vision to put all his years of experience in the platform.
Arindam Sen is the technology brain of the company. He has built the product from scratch with a vision to make it scalable and sustainable for the clients.
He is a serial entrepreneur and came on board with the idea of iAugmentor after exiting from his previous venture FWT Educational Pvt Ltd. Currently, he is also part of ‘Edusen’ a company providing training & inputs on strategic growth to startups across industries.
How was iAugmentor Started
Pratik, Sameer and Arindam met each other through a common friend. They shared the passion to do something new, and started meeting each other and would discuss new business ideas over drinks. It was February 2016, when over such casual meetings, the founders stumbled upon the idea to start iAugmentor.
iAugmentor was primarily created to address the need of college students who face issues in Communication Skills during an interview and enhance their employability. The idea was to create a virtual mentor through technology for those who are shy and cannot perform in front of a crowd. Though during the start, the company had a great response from the university management but later dipped as the downloads for iAugmentor was very low. However, the founders were determined to make iAugmentor a success and after doing some market research, the company was pivoted to a corporate training edtech company
“We raised more funds through angel investors from Dubai and then pivoted our Business Model to corporate training at the end of 2017 when our 1st client Nokia got on board. We realized the actual strength of the product and spent the whole 2018 only catering and learning from 2-3 flagship clients which helped us build the product” narrates Pratik.
Currently, iAugmentor is a technology-enabled assessment & learning platform which enables personalized, adaptive and experiential learning.
StartupTalky
iAugmentor - Name, Tagline and Logo
iAugmentor is a combination of three words-
- 'I’ which stands for personalized.
- ‘Augment’ which means increase/augment
- ‘Mentor’ meaning Guide.
iAugmentor’s tagline is “let's make learning come alive”
What is iAugmentor
The idea behind iAugmentor is to provide a personalized mentor to individuals to augment their skill sets, through cutting edge technology & a whole gamut of learning articles. iAugmentor is a platform that brings together technology, human intervention and a whole gamut of learning activities under one roof with the intention of making learning more effective, intimate and accountable.
Anyone looking to upgrade his or her skills on communication has an option to do physical training in person by trainers or through an E-learning platform which is readily available in the market. iAugmentor is the next generation technology which acts as a personalized mentor and is very different from any E-learning product. It's an Artificial intelligence-driven, gamified and assessment-based learning App which directs users to learn content based only on their weak areas in any course structure.
Each learner has an option to avail learning through Videos, reading articles, games, ppts, cartoons, games, quizzes, animations, peer – to – peer learning & simulated role-plays to provides adequate exposure and deep understanding of concepts with implementation details and their applications. iAugmentor’s training content and methodologies have been developed through collaborative research by a globally diverse set of educationists, psychologists, corporate leaders and life skills experts.
ReA-(Response Analyser) which is another technical feature that helps users practice workplace situations by recording there video or audio and get benchmark their performance against an expert response.
Some USPs of iAugmentor are-
- AI-backed Personalization, which helps the user get a personalized learning path and asses his own learning graph to ensure that learning is according to his interest, skill and needs.
- Lets the users learn by doing.
- iAugmentor’s ‘Bite-size chunk microlearning’ feature lets the user learn short bites of content at a time.
- It allows for spaced repetition that instills the learning in the user’s mind.
- Lets users learn through experiment and game thus making learning engaging and fun
AI is the flavor of the season and more and more companies are looking for automation on the same. New Millennial joining the workforce is more friendly with technology rather than physical intervention. The world is moving with Classroom without walls where the learner will have the option to choose and solve issues using technology. Artificial Intelligence and Augmented reality are moving very fast and in the next few years technology will be the only solution to learning.
StartupTalky
iAugmentor - Revenue Model
iAugmentor is a B2B mobile learning & gamification platform which sells subscription services of its APP in two models-
SaaS Model: The client can use iAugmentor’s Ai Based Learning Model for behavioral training inside the organization like business communication, presentation skills, etc where games are also a part of the program.
PaaS Model: The client has an option to upload or create its own courses on the APP and use for induction training etc.
Each of the above is sold through subscription costs Monthly/Quarterly or yearly depending upon the requirement. The price starts from INR 2000 per user on a quarterly basis which also includes clients using the platform to create their own courses as per requirements in the same price.
iAugmentor - Funding and Investors
iAugmentor has raised two rounds of angel funding worth USD 250,000.
| Date | Stage | Amount | Investor |
|---|---|---|---|
| September 2016 & November 2017 | Angel Investments | USD 250,000 | RAIN(Rajasthan Angel India Network), Mr.Samir Elwani & Me.Ehab from Dubai |
Our investors have been our mentors/advisors who have taught us to grow and never doubted our ideas or plans.
iAugmentor - User Acquisition
iAugmentor, being into a B2B business involves a long sales cycle where a lot of stakeholders are involved. The company started its business with clients whom the founders knew through their previous experiences in the industry. All the 3 co-founders chipped in with their connects and expertise in the field and ended up meeting people and closing business.
In the first 2 years of business, the Co-Founders were the sellers and creators of iAugmentor. Once it grew in terms of clients and funding, the team was expanded. From the start of 2019, iAugmentor started hiring more salespeople who helped the company reach out to corporate. It has recently started marketing digitally too which has been giving good rewards.
“Since the inception, we have focused on building a really cool product hence only invested in people and the product. As a company we relied more on tie-ups and partnerships in India and abroad” Pratik says
StartupTalky
iAugmentor - Startup Challenges
The long sales cycle is a major challenge iAugmentor is facing.
As Pratik says, “One of the major challenge that we have always faced and still trying to improve upon is: reducing the sales cycle to close any client. Long gestation period and payment structures have been an issue to keep the cash flows going.We had to raise investment to survive and push really hard with clients to make up for pending payments. There have been times when founders have not taken salaries and lived on Credit cards for almost 6-8 months because we have invested everything we had in the company to keep it afloat”
iAugmentor - Competitors
Though there are other players operating in the corporate training domain, iAugmentor has no direct competition as it is the only Indian start-up that has designed a learning platform giving access to a personalized mentor to every individual learner. It is a one of its kind brand to offer an assessment-based learning tool that is personalized and adaptive medium that intuitively suggests a roadmap to an individual as per the learning tendencies, learning competencies and learning proclivities, constantly tracking progress as well.
iAugmentor - Awards
iAugmentor has been featured as the top 10 startups in the Ed-tech space in 2017 & 2018 by various magazines like inc42 and CEO magazine etc.
The Founder of iAugmentor Mr.Pratik Marwah was also invited to the world convention of International Telecommunications Union in Kenya after being adjudged as the top 5 startups in ICT across the world.
iAugmentor - Growth
iAugmentor is currently extending its services in Egypt, Kuwait, Kenya, Malaysia & Singapore. The company has been growing at the rate of 100% year on year whereas with new tech features and product lines it is already sitting with purchase orders worth 1 million USD in the current year which should take iAugmentor to 400% growth rate by the end of this financial year.
iAugmentor is working with reputed clients like Ericsson, Nokia, Hanu Software and Tata Power.
The company recently launched its services with a mobile operator ZAIN in the Middle East as sole education providers in VAS model for its 22 million-plus subscribers on April 2019.
iAugmentor plans to move to total gamification backed by artificial intelligence-based learning by the next quarter and also raising funds to venture into AR/VR. The company also aims to introduce a B2C model by FY 2020.
iAugmentor - FAQs
What is Augmentor Labs?
iAugmentor is a revolutionary technology platform which is a first-of-its-kind learning platform giving access to a personalized mentor to every individual who desires to learn his/her skill sets to achieve his potential.
Does iAugmentor use AI?
Yes, it is an Artificial intelligence-driven, gamified and assessment-based learning App which directs users to learn content based only on their weak areas in any course structure.
Is iAugmentor Indian company?
Yes iAugmentor is an Indian company headquartered in Gurugram.
Author: Chayanika Goswami
Source : https://startuptalky.com/iaugmentor-success-story/
Date : 2021-04-15T18:23:00.000Z