Social learning platform Bluelearn has raised $3.5 million in its seed round led by Elevation Capital and Lightspeed. The round also saw participation from Titan Capital, 2am VC, along with angel investors Vidit Aatrey and Sanjeev Barnwal, Awais Ahmed, Vivek Mohan and others. This is in addition to the previous rounds led by Lightspeed and 100x VC.
According to Bluelearn, the proceeds will be used to ramp up its market expansion to newer and previously untapped markets in India and globally.
Founded in 2021 by Harish Uthayakumar and Shreyans Sancheti, Bluelearn started off as a telegram channel for students to help each other with common questions and today their app claims to have over 150,000 members from over 5,500 colleges and startups across 20 countries and is growing 30% month on month organically.
The startup has also launched its internship and freelancing platform, Bluelearn Work – which matches the top 2% of community members with companies looking to hire talent quickly. In under two months, BL Work claims to have seen over 1,100 companies and individuals post gigs and internships and more than 30k total applications.
Bluelearn plans to use the funds to further strengthen the product and team as well as to grow their community user base by 10x within the year. The brand is actively hiring across functions such as product, tech, marketing, and operations and plans to almost double team size by the end of the year.
Venture capital firm Elevation Capital announced its eighth fund worth $670 million in April 2022. The firm has invested in over 150 companies across consumer internet, SaaS, fintech, consumer brands, edtech, healthtech and web3/crypto, and has offices in Bengaluru, Gurugram and Salt Lake City.