KNOLSKAPE has raised series A funding from The HR Fund, India’s first human resources focused private investment company and Inventus Capital Partners, a US-India venture firm managed by entrepreneurs.
The gamification and simulation software company will get assistance from The HR Fund with regard to the expertise it brings to reach into the global HR community, while the Inventus Capital will help KNOLSKAPE scale-up their operations globally.
The investment will be used for the purpose of global expansion, product innovation and building international partnerships.
KNOLSKAPE is known for its experiential learning products and helps other organizations to attract, grow and retain talent.
Speaking about the investment, Utkarsh Joshi, Principal, The HR Fund, “The philosophy of The HR Fund is to back 8-10 winning ideas across the HR value chain. KNOLSKAPE is another diverse addition to our existing portfolio. While I can't disclose the numbers, it's a proper series A transaction. The company is doing some transformational work in the L&D space and we are very excited to be backing them."
The global market for gamification will be around $5.5 billion by end of 2018, and as Utkarsh said, “in India, the way we consume information is rapidly changing. With a tech-savvy workforce, gamification is a sureshot way to make the process of on-boarding and training more engaging. Of late, in India, this gamified approach has been adopted by various corporates to engage younger workforce."
Rajiv Jayaraman, Founder & CEO – KNOLSKAPE said, “Today, with the increase in millennial population in corporates, there is huge challenge to engage the workforce. Moreover with the millennial generation set to occupy half of the global workforce (by 2020), HR has realized an immediate need for engaging youngsters. Thus, ‘Microlearning’ or bite sized lessons in the form of games are a new trend catching up in India.”
Disclosure: The HR Fund has also invested in People Matters Media Pvt Ltd.