WizIQ, online education platform that offers SaaS based virtual classroom software for teachers, trainers, colleges and universities, high schools, and training and tutoring centers around the world, announced that it has raised $4 million in Series B investment.
The funding is led by Kaizen, India’s first education focused private equity fund along with Bertelsmann, the global media company based in Germany, whose core divisions encompass television, book publishing, magazine publishing and services in more than 50 countries.
WizIQ claims to have over 2.5 million students learn using the platform and over 200,000 teachers teach online in more than 100 countries at a growing annual rate of over 200% revenues.
As a part of this investment, authorSTREAM, another online platform that PowerPoint users around the world use to share presentation based content and raised angel round from Rajan Anandan (and others) will merge into WizIQ. With 4 million users using authorSTREAM and a lot of them being teachers, trainers and students, this merger will help WizIQ reach out to a much larger audience than it could by itself.