Oliveboard, an online test preparation platform specialising in government and bank recruitment exams, has announced that it has secured two million registered subscribers recently.
The increased and rapid adoption of the platform and its services can be attributed to the company's offerings which are tailor-made to help students tackle the toughest examinations with ease.
The Michael and Susan Dell Foundation-funded startup provides holistic exam preparation support, which includes tips, course material, motivational content, gamification (game-design elements), measurement metrics, vernacular languages, counselling and collaboration with other students, among many others.
"According to a KPMG and Google report in May 2017, India's online education market is set to grow to USD 1.96 billion and around 9.6 million users by 2021, from USD 247 million and around 1.6 million users in 2016," said Abhishek Patil, Founder - Oliveboard.
"Within this, online test preparation platforms are slotted to be the fastest growing category with a compounded CAGR of 64 percent. We are witnessing these predictions come true with our rapidly increasing user base and the growing interest in e-learning across India," Patil added.
Founded in 2012 by ex-Inmobi colleagues, Patil and Satish Kumar, Oliveboard received 'Pre-series A' funding from India Educational Investment Fund (IEIF), an early-stage impact investment fund established by the Michael & Susan Dell Foundation.
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The company began with a focus on MBA exams before expanding to the bank and government job exam segment in early 2014. It provides its users with complete preparation support through video lectures, online study material, All India test series along with various other practice tests, across over 50 exams
Most of Oliveboard users are 21-30-year-olds, with a majority (around 70 percent) of them from Tier II and III cities of India. Users span across over 1000 cities and towns of India.