CHANDIGARH, INDIA--(Marketwire - Jan 24, 2013) - WizIQ, a leading online educationplatform that offers SaaS based virtual classroomsoftware for teachers, trainers, colleges and universities, highschools, and training and tutoring centres around the world, announced thatit has raised $4 million in Series B investment. The funding is led byKaizen, India's first education focused private equity fund along withBertelsmann, the global media company based in Germany, whose coredivisions encompass television, book publishing, magazine publishing andservices in more than 50 countries.
The investment will bolster WizIQ's position as a collaborative learningplatform for teachers and students.
"WizIQ's vision is to enable anyone to teach or learn anytime and anyplace.For the last five years, Educomp has supported us in moving closer to thisvision, and now the new investment will take us to next level," said HarmanSingh, CEO and Founder, WizIQ. He added, "Building an online network ofteachers and students and providing them with the right tools to interactonline is necessary to make education accessible to everyone. Theinvestment will help WizIQ build a better platform and infrastructure foronline and blended education."
Within a short span of time, WizIQ hasbeen able to help over 2.5 million students learn and over 200,000 teachersteach online in more than 100 countries at a growing annual rate of over200% revenues.
Winner of the 'Best Virtual Classroom Provider' bythe World Education Congress, WizIQ is now used for online teaching incolleges like IIT Delhi in India, Atlantic University in Virginia Beach andDes Moines Area Community Colleges in Iowa, USA, while being the virtualclassroom software for tutoring companies like StudentNest in California,and TCY Online in India. Educators, like Dr Nellie Deutsch, are also usingWizIQ to run high quality MOOCs.
WizIQ provides tools for teachers to deliver online education in online orblended learning formats, connect with students, share educational content,deliver live online classes and facilitate highly engaging learningexperiences. WizIQ works on PCs, iPad and Android tablets; and can becustomized for languages such as Arabic and Hebrew (right to left) andother 12 languages.
As a part of this investment, authorSTREAM, another onlineplatform that PowerPoint users around the world use to share presentationbased content, will merge into WizIQ. With 4 million users usingauthorSTREAM and a lot of them being teachers, trainers and students, thismerger will help WizIQ reach out to a much larger audience than it could byitself.
WizIQ is an online education platform that offers SaaS based virtualclassroom software for teachers, trainers, colleges and universities, highschools, and training and tutoring centers. WizIQ has over 200,000 teachersand 2.5 million learners using the platform in more than 100 countriesaround the world. For more information, visit: www.wiziq.com
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