Info Edge, a public listed company that controls Naukri.com has pumped $3.98 million in NoPaperForms, one of its portfolio companies in an all-cash deal. Following the Series B round, Info Edge will increase its stake to 48.1 per cent in the enrolment solutions provider for institutions.
With the fresh funding, the startup is now valued around Rs 100 crore.
During the last financial round, Info Edge had put in Rs 5 crore and picked up 28 per cent stake in the New Delhi-based startup.
NoPaperForms will deploy the fresh capital towards the expansion of business development, ramping up technology and hiring talent.
Founded by Naveen Goyal, NoPaperForms helps institutions to increase their outreach capabilities, enhance recruitment efforts, expand customer service offerings, and improve end results.
Powered by machine learning mart data analytics modules, it also helps in interpreting data, benchmark performance, and measure return on investment on a real-time basis.
Since inception, NoPaperForms claims to have partnered with over 170 institutions, besides collecting more than 10 million leads and handling 350K queries.
It counts prominent institutions like SRM University, Jamia Hamdard, BIMTECH among several others in its clientele base.
NoPaperForms was originally part of online career counselling and education services firm Careers360. It was acquired by Career360 in 2015. Later, Careers360 sold it to its chief strategy officer Goyal in a cash-and-equity deal worth $3 million.
Apart from NoPaperForms, Info Edge has invested in around 40 startups including Zomato, Mydala, PolicyBazaar, ShopKirana, Meritnation, Canvera, and BigStylist.