Mumbai: Early-stage technology fund, Silverneedle Ventures has invested in a Chennai and Mumbai-headquartered startup Disprz – a skilling platform for enterprises. Disprz helps global companies right-skill their workforce with an AI-powered learning and skilling suite.
The tech startup raised an undisclosed sum in a bridge round between Series B and Series C rounds from Silverneedle Ventures and other current investors. Disprz aims to utilise the fund for its expansion in the US and UK markets for hiring and marketing.
Founded in 2015, Disprz leverages artificial intelligence, cloud, and mobile to power its enterprise skilling platform. This platform helps organisations build a steady pipeline of the fully enabled workforce by driving job readiness, enabling skilling on the job, and facilitating career mobility.
In the year 2021, the startup raised $13 million in a Series B round from Dallas Venture Capital (DVC), Mars Growth Capital and others. Silverneedle Ventures (earlier Xseed Partners) has been one of the early backers of Disprz since 2016.
The Coronavirus (Covid-19) pandemic has thrown global learning and development spending into high gear – from spending that stood at $360 billion in 2019, to what is now expected to touch $500 billion in 2025.
With 280 plus team members across India, USA, UK, ME and SE Asia, the enterprise tech startup will use this investment in expanding to the developed markets. It aims to also expand the team in the sales and marketing functions in emerging markets where sales repeatability has been established.
“Disprz has a strong and credible team, backed by a solid founding team- amazing team players with a great mix of business and technology mindset,” said Ajay Jain, Founder and Managing Partner of Silverneedle Ventures.
“We have built a strong relationship with the founder over a period of 10 years and worked extensively along with him throughout the journey. We were one of the early backers of Disprz through Xseed, and we feel there is a strong journey ahead. It has just scratched the surface, hence we are doubling down from SNV with a lot more conviction,” added Jain.
“We are fast growing to become the leading provider of learning, skilling and enablement solutions for enterprises in emerging Asia, having reached a significant scale in India, South East Asia and Middle East,” said Subramanian Viswanathan, Co-Founder and CEO of Disprz.
“We have the privilege of serving some of the household brands in India and other emerging Asian markets like Uber, HDFC Life, Sharaf DG, Central Bank of UAE, and Bajaj Allianz, to name a few among our 275 clients. We are now keen to up our game in developed markets where we have demonstrated very good initial traction,” said Kuljit Chadha, Co-Founder and COO of Disprz.