DealCurry.com : Kaizen And Bertelsmann Invest In Online Business ...

PE Firm ? Kaizen and German Media Company ? Bertelsmann has co ? invested R22 Cr in Authorgen Technologies which operates WizIQ.

WizIQ offers online education platform that offers SaaS based virtual classroom for teachers, trainers, colleges and universities and tutoring centers around the world.

The company will use these funds as growth capital and in up scaling the usage of the website.

Educomp acquired around 51% stake in Authorgen Technologies in Aug?07 and later increased it to around 83%.

Launched in 2007 by Harman Singh and Harbir Khurana, WizIQ.com is a web based platform for education service providers to teach live and online in an easy-to-use and free virtual classroom. Over 15,000 teachers and around 2 Mn learners currently use WizIQ?s e-learning services.

Learners and teachers can connect through WizIQ?s state-of-the-art virtual classroom equipped with live audio, video, whiteboard and text chat elements.

It allows the teachers to teach at their own terms and even facilitates payments for their teaching and tutoring services and it?s free to join.

WizIQ?s virtual classroom software works on desktop computers, iPad as well as Android tablets and can be customized for languages such as Arabic and Hebrew (right to left) and other languages like Chinese, Czech, Dutch, English, French, Polish, Persian, Portuguese, Russian, Spanish, Thai and Turkish.

Bertelsmann is an international media company whose core divisions encompass television , book publishing magazine and services in some 50 countries. In 2011, the company?s business, with more than 100000 employees generated revenue of 15.3 Bn Euros.

Founded by Sandeep Aneja, Kaizen Management advises education-focused fund Kaizen Private Equity. The Fund aims to provide funding to education companies in their growth stage and will focus on operational improvements in its portfolio companies. The investment manager of the fund is Monterey Capital Management.

Kaizen recent investment includes ? Ace creative, Altus Learning (R25 Cr), and invested around R20Cr in Your Kids 'R' Our Kids Education.

In this space, Multistory Learning, from the family of The ilovereadin library raised $45,000 from undisclosed angel investors; IAN invested in Aurus Network; Next education was planning to raise funds for growth capital.

This January, Educomp Solutions was planning to sell its entire 50% shareholding in Eurokids International Limited to a group of financial investors led by GPE India, a leading investor in education.

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Tags

acquires , learning , Educomp Solutions , WizIQ , Authirgen technologies , Kaizen Private Equity , Bertelsmann , leaing technology , Next education , Aurus Network , Indian Angel Networks , Multistory Learning , The ilovereadin library , Ace creative , Altus Learning

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Company
Name	Promoters	Office	Competitor	Website
AuthorGen Technologies Private Limited?	?	?	?
Educomp Solutions Limited?	Shantanu Prakash Jagdish Prakash ?	1211, Padma Tower-I, 5, Rajendra Place ?	Shantanu Prakash Jagdish Prakash ?	http://www.educomp.com
Kaizen Advisory Services Private Limited?	?	151-A, Mittal Court, A Wing 15th Floor, Narimain Point , Mumbai- I-21 ?	?

Source: http://www.dealcurry.com/20130124-Kaizen-And-Bertelsmann-Invest-In-Online-Business-Of-Educomp.htm

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