Centum Learning Raises Rs 40 crores from Mayfield India Fund
Centum Learning is a leading company in the higher education and skill-building domain. It has announced that Mayfield India Fund has made an investment of Rs 40 crores in Centum Learning Ltd.
- (1888PressRelease) July 28, 2010 - Centum Learning (a Bharti associate company) today announced that Mayfield India Fund has made an investment of Rs 40 crores in Centum Learning Ltd.
Centum Learning, a leading player in the higher education domain has set up more than 130 learning centres in 90 cities across India to make a significant contribution in bridging the existing gap between academia and industry requirements. It has now launched another initiative- Centum U - Institute of Management & Creative Studies, which offers various undergraduate and postgraduate programmes in association with world-renowned institutions in New Delhi, Mumbai, Pune, Mohali and Hyderabad. Besides, Centum Learning is actively engaged with the State Governments to develop globally deployable skilled manpower and enhance employability quotient of both urban and rural youth.
Centum Learning has recently received the coveted Gold Award for "Excellence in Training" at the World HRD Congress, 2010 and figures in the 'Top 16 Training Outsourcing Watchlist 2010.'
Announcing the development, Mr. Rakesh Bharti Mittal, Chairman, Centum Learning said, "India's fast growing economy needs quality manpower to take forward its success story. The education, training & development segment has immense growth potential in India and Centum Learning is well positioned to unlock this potential. This investment from Mayfield is an endorsement of the company's vision and we are delighted to have them as a strategic partner."
This new investment reflects Mayfield India Fund's investment theme of adding value to growth stage companies in the consumer sector. MF Advisors Managing Director, Vikram Godse would be joining Centum Learning's board of directors. Speaking on the investments, Mr. Godse, said "The education in India is going through a transformation in the way higher education and skills development is being implemented. Centum Learning is at the centre of this change. We are excited by the company and its founders bold vision to build India's foremost education and skills company. Given their proven track record of execution, we believe this is a tremendous opportunity".
Commenting on this partnership, Mr. Sanjeev Duggal, CEO & Executive Director, Centum Learning said, "It gives me great pleasure to partner with Mayfield India, which has many success stories behind it. This partnership will help us embark upon an enhanced growth trajectory in this vastly under-supplied education and professional skills sector. We believe that meaningful education and skill enhancement of youth would truly transform the socio-economic landscape of our country and we have sufficient business acumen, knowledge and experience to achieve scale with standards in this domain."
Over the past 40 years, Mayfield Fund has been at the forefront of investing in emerging businesses that have grown into industry leaders. Mayfield Fund invests in the U.S., China and India and currently has $2.4 billion under management. It has invested in over 480 companies of which 105 have had initial public offerings and another 160 have been acquired. Some of Mayfield past investments include Compaq, Amgen, SGI, 3COM, Sandisk, Citrix, Cypress Semiconductor, Intuitive Surgical, Web Methods, Tibco, 3PAR and LSI Logic.
Mayfield started investing in India in 2006, and with a dedicated India fund, raised in 2008, has made direct investments in companies like Satya Paul, Geodesic Techniques Fourcee and Paymate. Mayfield India focuses on companies with substantial operations in India that have the potential to become global leaders, with a special interest in Consumer, Specialty retail, technology & technology enabled services, infrastructure ancilliaries and Agri related companies.
About Centum Learning Limited
Centum Learning, a Bharti Associate Company, provides end-to-end learning and skill-building solutions that impact business performance through enhanced employee productivity, customer profitability and effective talent transformation.
Focused on 'People and Processes', its solutions cover the entire spectrum ranging from Learning Process Outsourcing, Custom Content Development, Training through Blended Learning Programmes, Executive Coaching, Performance Coaching to Process management and Certification. It also focuses on building industry specific skills at the entry level for the service sector.
In the skill- building domain, Centum Learning Limited has set up more than 130 Centum Learning Centres in 90 cities spread across India, to provide higher order employability skills and bridge the existing talent gap in the service sector. Centum Learning has now launched Centum U - Institute of Management & Creative Studies. It offers various undergraduate and postgraduate programmes in association with world-renowned Universities and Institutes.