Delhi based education marketplace Careers360 has raised Rs 6 cr in funding from Manipal Group promoter Ranjan Pai and Satya Narayanan R, the founder of Career Launcher.
Mahesh Murthy of Seedfund has also invested in this round.
The company was founded in 2008 by Maheshwer Peri & Rajesh Jain as a career counselling platform for students. At the end of May 2014, their website clocked 8 million monthly page views.
Careers360 has been around since 2008. And I can only assume that its a business which makes a good deal of money. Why raise all this cash then?
The real deal
Maheshwar Peri was earlier the publisher of the Outlook group. There has been a long running battle between Peri’s Careers360 and the Indian Institute of Planning and Management (IIPM) run by Arindham Chaudhuri, the self styled management guru (Mint’s Cordelia Jenkins & Prashant K Nanda have a good one about this: Maheshwer Peri’s long way around.)
Careers360 was planning to publish a story in 2009 about the problems in Indian private educational institutions. IIPM’s Chaudhuri got an injunction from the Delhi High Court. The court allowed Careers360 to publish the article with IIPMs responses.
Choudhuri has filed multiple cases against Careers360 and many other publications (JAM, Caravan to name a few) that have published articles on IIPM & its claims.
Mahesh Murthy, who is also an investor in Careers360 is an ardent critic of the IIPM. Choudhuri has filed cases against him as well. Read this Quora post for more on why Mahesh Murthy is crusading against Choudhuri. (Also see this bundle on Bit.ly) Ranjan Pai runs the Manipal group of institutions which offer competing courses.