Description
Problem
Communication skills are indispensable in the 21st century yet, conventions schools and colleges don’t cater to this need!
Today, effective communication is a vital skill for both personal and professional success. However, public speaking and creative writing can be daunting, especially for children and adults who are just starting.
The most pressing need for Indian parents is to provide the best education for their child. The school system is ineffective, leading to tuitions as the last resort. These suffer from poor teacher quality, content and environment. Students are often disengaged, lack basic skills and this leads to a poor performance in school.
Solution
PlanetSpark offers Live 1:1 classes that are meticulously designed to cover all the critical themes for public speaking and creative writing for both children and adults. Their program recognises the importance of public speaking and creative writing skills and how they can contribute to an individual’s success.
Whether you’re a student or a professional, engaging in confident public speaking is essential to make an impact. At PlanetSpark, they seek to instill these skills from the start.
Market Opportunity
PlanetSpark is the market leader and the category creator for communication skills and 21st-century skills for kids and adults, tapping the $40 billion global market.
Following are a few highlights of Planet Spark:
- Planet Spark has achieved a 72% growth in Gross Revenue from October 22 to June 23
- They have reached an ARR of $12m with a 7% MoM growth rate
- Their EBITDA has improved from -104% to -19%
- The LTV: CAC ratio is now at 2.1x
- Currently they have 18,000 live students clocking over 120k learning hours per month
About the Founders
Kunal Malik – CoFounder – Hindustan Unilever (HUL), Head, Sales Business Partnering (North)
5 years of experience across various roles spanning Supply Chain and Sales Business Partnering in India’s biggest FMCG organization, Hindustan Unilever.
Maneesh Dhooper – CoFounder – UrbanClap (Head, Education Services), Novartis Switzerland (Project Lead, Corporate University)
Headed the Education Vertical at Urban Clap Founder of skill development venture, Jobingo. Worked with Novartis Switzerland for 2 Years and set up the Africa Learning University.
Details of the round
They are raising $2.5Mn, out of which $2Mn has been closed by their existing investors Prime Venture Partners, FIITJEE, Dr. Ashish Gupta (founder of Helion Ventures) and more.
The amount available is $250k at a Pre-Money Valuation of $65Mn. The valuation was done in March 2023 and the company has grown 30% since then.
The investment in PlanetSpark is open through our SEBI-
